A quick update from the NMTC Coalition’s Legislative Update Call—Congress is currently advancing a
budget reconciliation package, and there is a one-week window to include a three-year extension of the
New Markets Tax Credit (NMTC) program. Meanwhile, President Trump’s proposed budget only includes
funding for a 7-year wind-down of the CDFI Fund and NMTC. Without congressional action, the program
will begin to phase out.
Key talking points:
• Supports rural America: Over 30% of 2024 NMTC financing went to rural communities.
• Strengthens U.S. manufacturing: Over $3 billion in 2024 NMTC financing supported American manufacturing businesses.
• Enables local decision-making: NMTCs fund locally driven projects—like healthcare and childcare facilities—tailored to community needs.
If you have contacts in Congress who could assist with outreach, your support would be greatly
appreciated.
