Affordable Housing and Tax Credit Developments NationallySenator Coburn Releases Plan to Cut Federal Tax Expenditures by $1 Trillion

July 21, 2011by George Danneman

Senator Tom Coburn (R-Okla.) released a proposal named, “Back in Black: A Deficit Reduction Plan.”  The program plans to reduce the federal deficit by $9 trillion over the next ten years.  One of the plan’s goals is to eliminate $1 trillion in tax expenditures.  The proposal would eliminate the Low-Income Housing Tax Credit (LIHTC), New Markets Credit (NMTC), Historic Preservation Tax Credit (HTC), and Renewable Energy Tax Credits (RETC).

For more information about the “Back in Black: A Deficit Reduction Plan” proposal click here.

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