Press Release: Wicker, Warner, Colleagues Reintroduce 'Rural Jobs Act' to Fight Rural Poverty, Create Jobs
Press Releases May 18 2021 Wicker, Warner, Colleagues Reintroduce ‘Rural Jobs Act’ to Fight Rural Poverty, Create Jobs WASHINGTON – U.S. Senators Roger Wicker, R-Miss., Mark Warner, D-Va., John Boozman, R-Ark., Ben Cardin, D-Md., Kyrsten Sinema, D-Ariz., John Hoeven, R-N.D., Shelley Moore Capito, R-W.Va., and Cindy Hyde-Smith, R-Miss., along with U.S. Representatives Terri Sewell, D-Ala. and Jason Smith, R-Mo., today introduced the “Rural Jobs Act,” legislation that would build on the success of the New Market Tax Credit (NMTC) by bringing hundreds of millions of dollars in private investment to some of the most disadvantaged rural communities in America. “Recent jobs reports have shown that our nation is on the path to recovery, but there is more progress to be made,” Senator Wicker said. “The Rural Jobs Act would help boost private investment in rural communities through expanded tax incentives. This legislation would be an important addition to the New Market Tax Credit Program, which has already spurred tens of billions of private investment in distressed communities.” “New Market Tax Credits have had proven success in reviving local economies and creating needed jobs in communities around the country. Unfortunately, less than one in four jobs created by this program have been in rural communities,” Senator Warner said. “This legislation will bridge this job creation gap by earmarking additional tax credits specifically for rural and underserved regions, which are suffering tremendously due to the health and economic impacts of the COVID-19 crisis.” “The Rural Jobs Act builds on the momentum of the New Market Tax Credit to support job creation and economic opportunities in rural communities,” Senator Boozman said.
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