Nov. 12, 2024: Election Results and Implications for Community Development Tax Incentives

An apparent sweep by Republicans of the White House and both chambers of Congress in the Nov. 5 election has major implications for community development tax incentives such as the low-income housing tax credit (LIHTC), new markets tax credit (NMTC), historic tax credit (HTC), renewable energy tax credits (RETCs) and the opportunity zones (OZ) incentive. In this week's Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Peter Lawrence, Novogradac's director of public policy and government relations, discuss the election's outcome and preview what to expect in coming months. They begin by looking at the chances for community development tax incentives to be included in year-end legislation, then examine who will lead tax-writing committees in the next Congress before moving on to the reasons and chances for the "Super Bowl of taxes." After that, they examine the outlook for various tax incentives in tax legislation. Novogradac and Lawrence will co-host a special webinar on the election results Nov. 19.