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Funding, Tax Incentives, Grants & Awards for Preservation Projects     


Funding, Tax Incentives, Grants & Awards for Preservation Projects
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Debt Ceiling Talks Collapse Threatens to Implode FY'12 Appropriations and Preservation Funding
Historic Preservation Blog from PreservationDirectory.com - Reprinted with permisspublic policy, historic preservation funding, cultural resource funding, National Trust's Public Policy Department and Center for State and Local Policy
Contributed By: National Trust's Public Policy Department and Center for State and Local Policy

Vice President Biden met with the congressional leadership four times this week in the hopes of breaking the impasse about  the size and scope of a deficit reduction agreement necessary to get all sides to agree on raising the debt ceiling.  The hope is that an agreement can be reached to at least extend borrowing authority of the federal government through the end of 2013.  There is also growing sentiment among some GOP Senators to include elimination of previously sacrosanct tax credits as part of the deal and a draft Senate budget resolution is pending introduction that proposes the very same thing.  However, there is also a strong undercurrent in both chambers to delay elimination of ‘tax expenditures’ for consideration as part of a major tax reform and overhaul later on.  To make matters worse, the GOP congressional leadership pulled out of the budget negotiations altogether late on Thursday over including any revenue or tax increases in the final deal and called on President Obama to become personally engaged in the talks.  The collapse of talks and additional delay in reaching a debt deal will render any appropriations markups in the coming weeks into nothing more than a budget cutting exercise that will require further drastic reductions in spending.  At this point, it would appear nearly impossible for the Interior Appropriations subcommittee to mark up and approve Historic Preservation Fund (HPF)  funding at the President’s proposed F’12 budget level ($61 million) and even FY’11 level funding ($54.5 million) could be in peril when markup takes place July 6th.   Preservation funding has already taken a serious hit with the loss of funding for both the Save America's Treasures (SAT) and Preserve America (PA) programs.

Reprinted with permission from the National Trust's Public Policy Department and Center for State and Local Policy

Keywords: Reprinted with permisspublic policy, historic preservation funding, cultural resource funding, National Trust's Public Policy Department and Center for State and Local Policy

Posted: June 27, 2011
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