Treasury Department Awards $3.5 Billion In Tax Credits To Distressed Communities

Comments: 16  | Leave A Comment
  • advertisement
  • In a bid to spark development in low-income and under-served communities, the U.S. Department of the Treasury announced on Wednesday that it will award $3.5 billion in tax credits to several organizations. The New Markets Tax Credit will be distributed among 85 organizations that will channel the credits through 28 states and Washington, D.C.  The Treasury Department’s Community Development Financial Institutions Fund (CDFI) hopes this credit will assist in President Barack Obama’s commitment to spur economic growth across the United States.

    From the press release:

    The New Markets Tax Credit addresses one of the most significant obstacles to economic development that low-income communities face: a lack of access to patient, private investment capital,” said Treasury Assistant Secretary for Financial Institutions Cyrus Amir-Mokri.

    The $31 billion worth of tax credits awarded in past years have gone toward preserving hundreds of thousands of jobs and bringing community facilities and new businesses in to neighborhoods that desperately needed them. I expect today’s awardees will continue that trend.

     In fact, over 70 percent of New Markets Tax Credit investments have been made in communities that meet the highest distress criteria, above even the program’s requirements, said CDFI Fund Director Donna J. Gambrell. That result effectively demonstrates how essential the New Markets Tax Credit Program is to spurring economic development in underserved areas.”

    The New Markets Tax Credit was extended as part of the latest “fiscal cliff” deal for the rest of 2013. The credit was established in 2000, and it is provided to individual and corporate taxpayers who invest in what’s called “Community Development Entities.”

    1 2 Next page »

    Tags: »

    • More Related Content

    Comments

    16 thoughts on “Treasury Department Awards $3.5 Billion In Tax Credits To Distressed Communities

    1. Hello! This is the fourth time visiting now and I just wanted to say
      I truley fancy looking through your website. I have decided to bookmark it at digg.
      com with your title: Obama Tax Credit 2013: Treasury
      Department Awards $3.5 Billion In Tax Credits To Distressed Communities | Black America Web
      and your Web address: http://blackamericaweb.
      com/119269/treasury-department-awards-3-5-billion-in-tax-credits-to-distressed-communities/comment-page-1/.

      I hope this is okay with you, I’m trying to give your terrific blog a bit more publicity. Be back shortly.

    2. Wow! I’m truly enjoying the layout of your web site. Are you using a customized template or is this freely available to all individuals? If you don’t want to say the
      name of it out in the public, please email me at: madelinezamora@gmail.

      com. I’d love to get my hands on this theme! Cheers.

    3. Hey there! I hope you possibly can answer my question. I’m interested in a premium WP theme, but I don’t know
      how to know if the one I choose is going to be appropriate for mobile phones.
      What are some guidelines you can give me in regards to what to watch out for with regards to colors and
      background and details like that? I usually look at websites via my pda, and I’m going to guess that many folks are like me in that way. Oops, i went a bit off topic, sorry. Appreciated the document thou.

    4. I own a brand new tai-chi studio in the South.
      Believe that or not, I do not possess a web site at this point.
      The issue is I’m not sure whether to choose Blogger or Squidoo. I know that I want far more of a blog feel than a web page feel, if that tends to make any sense. I would like to have the ability to update my website with blog posts. Would you be capable of give a few benefits and drawbacks for going with either Blogger or Live journal? I seriously want to come to a selection fairly swiftly on this , cause doesn’t make sense for
      me to have this facility with out a internet site. It would be kind if
      you could provide me some suggestions. Please write to: marlon.
      barringer@web.de if you have some spare time. Thx, and btw wonderful site, i prefer my blog to be like yours one day!

    5. Hi there! Do you use Twitter? I’d like to follow you if that would be ok. I’m definitely enjoying your blog and look forward to
      new posts.

    6. Hi! Do you know if they make any plugins to safeguard against hackers?
      I’m kinda paranoid about losing everything I’ve worked hard on.
      Any recommendations?

    7. I am starting a new internet blog directory and was wondering if I can
      submit your blog? I’m hoping to increase my directory little by little by hand so that it maintains top quality. I’ll make sure and put your website in the correct category and I’ll additionally use, “Obama Tax Credit 2013: Treasury Department Awards $3.5 Billion In Tax Credits To Distressed Communities | Black America Web” as your anchor text. Please let me know if this is okay with you by contacting me at: cedric_baskin@gmail.com. Appreciate it

    8. I’m new to developing websites and I was wondering if having your website title relevant to your content really that crucial? I notice your title, “Obama Tax Credit 2013: Treasury Department Awards $3.5 Billion In Tax Credits To Distressed Communities | Black America Web ” does seem to be spot on with what your website is about however, I prefer to keep my title less content descriptive and based more around site branding. Would you think this is a good idea or bad idea? Any kind of assistance would be greatly valued.

    9. I run a food prep blog where I share my recipes
      and tricks and tips that I know coming from my numerous years of
      cooking. I try actually hard to improve my blog a minimum of thrice a week.
      I’ve had the blog for around ninety days, which I think is a fairly good amount of time. Nevertheless, my blog doesn’t get lots of visits this is frustrating.
      When I look for my posts on Msn, it’s really hard for me to uncover them. I found this blog on the 1st page of DuckDuckGo when i looked for Obama Tax Credit 2013: Treasury Department Awards $3.5 Billion In Tax Credits To Distressed Communities | Black America Web, hence i think you must be a specialist, care to share some advice with me?

    10. Your blog appears to be having some compatibilty issues in my opera browser.
      The wording seems to be running off the webpage pretty bad.
      If you would like you can e-mail me at: mark_tinsley@gmail.
      com and I’ll shoot you over a screen grab of the problem.

    11. Do you mind if I quote a small number of your articles as long
      as I provide credit and sources returning to your blog: http://blackamericaweb.
      com/119269/treasury-department-awards-3-5-billion-in-tax-credits-to-distressed-communities/comment-page-1/.
      I’m going to aslo be sure to give you the appropriate anchor text hyperlink using your webpage title: Obama Tax Credit 2013: Treasury Department Awards $3.5 Billion In Tax Credits To Distressed Communities | Black America Web. Be sure to let me know if this is okay with you. Thank you

    12. Howdy just stumbled upon your website from Yahoo after I entered in, “Obama Tax Credit 2013: Treasury Department Awards $3.5 Billion In Tax Credits To Distressed Communities | Black America Web” or something similar (can’t quite remember exactly). In any case, I’m relieved I found
      it simply because your subject material is exactly what I’m looking for (writing a college paper) and I hope you don’t mind if I collect some material from here and I will
      of course credit you as the source. Many thanks.

    13. I’m starting a new online blog directory and was wanting to know if I can submit your blog? I’m hoping to grow my directory slowly by hand so that it retains top quality.

      I will make sure and put your blog in the appropriate category and
      I’ll also use, “Obama Tax Credit 2013: Treasury Department Awards $3.5 Billion In Tax Credits To Distressed Communities | Black America Web” as your anchor text. Make sure you let me know if this is alright with you by mailing me at: marlonboggs@vegemail.com. Many thanks

    14. Thank you a lot for sharing this with all of us you really recognise what you are talking approximately!
      Bookmarked. Kindly also consult with my site =). We can have a link trade agreement among us

    Add Your Comment

    Fill in your details below or click an icon to log in:

    WordPress.com Logo

    You are commenting using your WordPress.com account. Log Out / Change )

    Twitter picture

    You are commenting using your Twitter account. Log Out / Change )

    Facebook photo

    You are commenting using your Facebook account. Log Out / Change )

    Google+ photo

    You are commenting using your Google+ account. Log Out / Change )

    Connecting to %s