October 20, 2017 | Patrice Frey, President & CEO | Call to Action: Urge Congress to keep the Historic Tax Credit
Dear Main Street colleagues,
More than 30 years ago, our Main Street communities came together to help save the federal Historic Tax Credit during the tax reform process.
As they say, there is strength in numbers. We prevailed…and the Historic Tax Credit has since helped rehabilitate over 42,293 buildings and revitalize so many of our communities.
We must now come together once again to ensure the next 30 years produces similar results. Main Street communities must band together to show our strength and make our voices heard in Washington.
Join me in urging members of Congress to keep the Historic Tax Credit in the tax code.
Tell them the HTC:
Creates jobs – more than 2.4 million to date
Leverages private investment – more than $131 billion to date
Helps small towns – over 40% of projects are in communities with populations less than 25,000
Provides a strong return on investment – Treasury receives $1.20-$1.25 in tax revenue for every dollar invested
There are three actions I hope you will take today:
- Write and call your Members of Congress and ask that they keep the Historic Tax Credit as they reform our nation’s tax code. Encourage other Main Street community members to Take Action and make their views known to representatives.
- Ask your city council to pass a resolution calling on Congress to keep this economic development tool in our toolbox and get media for your local leaders.
- Invite legislators’ district staff to tour your Main Street and deliver the national sign-on letter signed by hundreds of Main Street along with the state map of projects.
Even if your community has not used the HTC, this is a potential redevelopment tool that we cannot afford to lose! To hear where things stand with tax reform and historic tax credit advocacy efforts, join me for a November 2 webinar.
Time is of the essence. Thank you for acting quickly and speaking up for Main Street!
Patrice Frey, President and CEO
National Main Street Center