On November 9, the Senate Finance Committee released the Chairman’s mark of the “Tax Cuts and Jobs Act,” as well as a summary of policy highlights. The bill does not include a repeal of the PATH Act authorization of New Markets Tax Credit (NMTC) for 2018 and 2019. The Committee will markup the bill on November 13 at 3:00 PM.
The House Ways and Means Committee passed their tax bill yesterday, which repeals NMTC and terminates the final two years of NMTC allocations. The House is expected to vote on this bill next week.
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