Let Congress hear your voice. Email your support for the NMTC Program.

Support the NMTC Program

Members of Congress are currently making the decision on whether or not to retain the New Markets Tax Credit (NMTC) program. 
 
Please take 3 minutes before November 1 to send an email to your Congressperson and both Senators asking them to ensure that this credit remains a part of the tax code.
 
If you have worked with this program or know communities or persons who have seen the beneficial value of projects and businesses which have received the flexible, below market rate gap capital that is made available through this program – and you would like to see these types of beneficial community outcomes continue to occur, we urge you to reach out to your representatives today!
 
Click on the links below to find contact information for your Congressperson and both Senators, and to download a sample letter that you can send showing your support for NMTC.

Find Contact Information

Download a Sample Letter

Please take 3 minutes to send this email before November 1 – and ask your network of friends, co-workers, and industry contacts to do this as well. Our legislators need to hear from their constituency, and to know that the NMTC Program is important to their voters and their communities.

Thank you in advance for taking action.
Joy Beaton, Director of Government Relations
FLORIDA COMMUNITY LOAN FUND

FCLF Florida Community Loan Fund


In Florida, nearly 1500 distressed census tracts are eligible for the New Markets Tax Credit Program.

FL NMTC Eligible Census Tracts

Why Do We Support NMTC? Because it…

IT WORKS. Created nearly 750,000 jobs. From 2003-2015 delivered over $42 billion in capital to distressed communities, in both urban (80%) and rural (20%) communities with extremely high rates of poverty and unemployment. (1)

PAYS FOR ITSELF. NMTC investments in businesses in low-income communities and jobs created by those businesses generated over $984 million in federal tax revenue in 2012, more than enough to cover the $800 million cost of the program in the same year. 
(2)

ANSWERS TO LOCAL MARKET INTERESTS AND PRIORITIES. Instead of Washington picking winners and losers, NMTC places the project underwriting responsibility with community development entities (CDEs) with deep ties to the communities in which they work and supports projects that “but for” the credit could not be achieved.
 (3)

OFFERS A PROVEN METHOD FOR LEVERAGING PRIVATE CAPITAL INVESTMENT. From 2003- 2015, NMTC direct capital investments leveraged nearly $80 billion in total capital investments. According to the U.S. Department of Treasury, every $1 in foregone tax revenue generally leads to $8 in private capital investment in distressed communities. 
(4)

​IS ONE OF THE ONLY MARKET DRIVEN RESOURCES AVAILABLE FOR COMMUNITY REVITALIZATION.
 Over the last 40 years Federal spending on community development, as measured by a share of GDP, has dropped by 75%. As a result, there is tremendous pent up private investment demand for NMTC. From 2003-2015, NMTC applications totaled over $315 billion versus $50.6 billion in total credits awarded. (1)

Notes: 
1 NMTC Coalition, 2016 Progress Report.. 2 NMTC Economic Impact Report, December 2012. 3 National NMTC Coalition testimony to the House Ways and Means Committee, 2013. 4 National NMTC Coalition estimates.