The federal Historic Tax Credit (HTC) has been an essential source of funding for the restoration and revival of over 100 historic buildings across Oregon. Without the HTC, the vast majority of these projects – along with their jobs and community uplift – would not have happened. The HTC has returned a 25% “profit” to the U.S. Treasury. Restore Oregon has been in contact with Congressman Earl Blumenauer, who as co-chair of the Historic Preservation Caucus, has been valiantly working to defend the HTC. We have also called upon Senators Wyden and Merkley to advocate for the tax credit. Please add your voice – especially those in Congressman Greg Walden’s district. Links to legislators’ and talking points are below in this call-to-action from our partners at the National Trust.
Urgent Action Requested!
House Committee Passes Tax Bill with Historic Tax Credit Eliminated
HTC Reduced in Senate Tax Reform Bill
Nov. 10, 2017 – Yesterday, the House Ways and Means Committee passed The Tax Cuts and Jobs Act (TCJA) or H.R. 1, with the Historic Tax Credit (HTC) entirely eliminated, on a party line vote 24-16, setting up full-House floor consideration next week.
Also yesterday, the Senate Finance Committee released their version of a tax reform bill that reduces the Historic Tax Credit in half, from 20% to 10% for historic buildings. Additionally, the 10% pre-1936 non-historic “old” building credit is eliminated.
Your immediate ACTION is needed!
All advocates should be fully activated across the country, connecting with both House and Senate offices, asking them to retain the HTC in tax reform bills, undiminished. The fate of the HTC will be determined over the next few weeks, please advocate and ask others to advocate!
The House of Representatives is expected to consider and vote on the bill on the House floor next week.
Also next week, the Senate will begin to mark-up and pass their version of the tax reform bill out of the Senate Finance Committee.
- Please contact your House Representative by COB Monday and ask them to work with House leadership to insert the HTC back into the final House bill.
- Contact your Senators by COB Monday and ask them to go to the Senate Finance Committee and Senate leadership, express support to retain the HTC in the Senate tax reform bill undiminished.
How Can You Take Action?
Contact House and Senate Members – Call (during office hours) the offices of your Members of Congress. Ask to speak to tax staff, your staff contacts in offices or ask for email addresses of tax staff.
Here’s a suggested outline of your email message or phone call (despite our collective frustrations, it is extremely important to keep all Capitol Hill communication constructive and respectful):
- Introduce yourself as a constituent
- House –Say “I heard the historic tax credit is eliminated in the House version of the tax reform bill. I am extremely concerned that this important community redevelopment incentive will no longer be available to revitalize our main streets, towns, and cities and preserve our heritage.”
- Senate –Say “I heard the historic tax credit is dramatically reduced in the Senate tax reform bill. I am extremely concerned that this important community redevelopment incentive being reduced will no longer have the catalytic impact to leverage investment, revitalize our main streets, towns and cities, and preserve our heritage.”
- Explain why you value Historic Tax Credits, and that the redevelopment of historic buildings will not get done without the HTC.
- Let them know some previous and future HTC projects in your state/district (Link to State HTC Map and Project List below).
- Touch on why these historic buildings are so challenging but important to our communities.
- Ask…. “As tax reform moves forward, will Rep./Sen. ____ stand up for the Historic Tax Credit and use his/her voice to insist that the historic tax credit be retained, undiminished, in tax reform?”
- Share with the office the video of President Reagan supporting the HTC, https://www.youtube.com/watch?v=-kJAIopuPyI&t=2s
- If your member of congress has agreed to help, please remember to thank them and tell others about their support!
Share this Alert
Share this alert with colleagues and friends. If you know someone who has a personal relationship with a Republican member of Congress or Republican Senator, now is the time to help amplify our message to Washington and ensure folks are hearing the need to keep the HTC from both sides — at home and in Washington. Time is short!