Senate Finance Committee Forming Bipartisan Taskforces to Examine Certain Expiring/Expired Tax Provisions, including the New Markets Tax Credit

On May 16, Senate Finance Committee Chairman Chuck Grassley (R-IA) and Ranking Member Ron Wyden (D-OR) announced that the Senate Finance Committee is forming six bipartisan taskforces to examine a total of 42 temporary tax provisions that expired, or will expire, between December 31, 2017 and December 31, 2019. This will include the New Markets Tax Credit (NMTC) which expires at the end of 2019. Of the six bipartisan taskforces, the Employment & Community Development Taskforce is expected to consider the NMTC. Enterprise will be submitting comments to the taskforce expressing the demonstrated success and importance of the NMTC and recommending its permanentextension. To learn more about the taskforces and how to support the permanent extension of the NMTC, please see this blog post.

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