Planetizen - The historic tax credit is threatened in the current version of the House tax bill released last week. Its loss would greatly reduce developers' ability to renovate historic buildings and threaten cities' ability to revitalize older districts, and cities like Philadelphia already have a hard time saving old buildings even with the credit in place.
National Trust research indicates more than 40,000 buildings have been
restored nationwide, creating two million jobs. That alone is reason to
save the historic tax credit.
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