Guest Post by Gavin Clarkson (an update from last year’s post, here):
For the second time in as many years, NO NATIVE CDEs were selected for an award of New Markets Tax Credits. Despite strong objections from Native financial leaders, The CDFI Fund once again ignored the stark economic development needs of the Nation’s Tribal Communities and froze Native CDEs out of this important economic development financing program.
The case for a Native Carve Out for NMTCs is stronger than ever. The time for political action is NOW. Congress will be considering permanent financing of the NMTC Program as part of the Tax Extenders Act of 2014. Native political leaders should insist that a central component of permanent financing must be a mandatory Native American NMTC Carve Out.