The federal historic tax credit has been quietly and effectively transforming historic buildings into new uses for more than 30 years. These projects:
Are “green.” Historic rehabilitation projects essentially recycle existing buildings in existing communities. This keeps development away from farmland and green space, and close to public transportation and other services.
- Create more and better paying jobs than new construction, because historic preservation is more labor-intensive than new construction.
- Save places that give communities character and that residents, businesses and tourists flock to.
- Fuel local economies because developers tend to source their material and labor locally, instead of from faraway factories.
Make good economic sense. The historic tax credit program has cost the U.S. Treasury $17.5 billion in its 32-year history, which is more than offset by the $22.3 billion in federal taxes these projects have generated.
Now the historic tax credit program and its positive impacts are threatened by cuts or possible elimination by Congress. We don’t have to stand for this. Sign our pledge and join the fight to save the historic tax credit -- because it works.
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