Architects to Congress: "You're Making a Terrible Mistake"
Washington, D.C. -- The American Institute of Architects (AIA) will lobby aggressively against significant inequities in both the House and Senate versions of the Tax Cuts and Jobs Act as the legislation heads into conference.
The House legislation abolishes the Historic Tax Credit (HTC), vital to the revitalization of America’s city centers and hailed as an economic engine since the Reagan Administration put them into place more than three decades ago. The Senate bill eliminates the current 10% credit for pre-1936 structures, and significantly dilutes the current 20% credit for certified historic structures by spreading it over a five-year period.