WASHINGTON, D.C. (December 22, 2020) – The Consolidated Appropriations Act of 2020, passed by the House and Senate and expected to be signed by the President includes a five-year, $25 billion annual extension of the New Markets Tax Credit (NMTC), the largest extension in the history of the Credit. This allocation will go far to deliver resources to low-income and marginalized communities, creating jobs, increasing economic opportunity and improving lives at a time when the economic frailty of our underserved communities has never been more apparent.

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