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Gabe Galanda and Little Fawn Boland: Seize new tax opportunity with Donald Trump

Filed Under: Business | Opinion
More on: donald trump, economic development, employment, gabe galanda, little fawn boland, taxation
     
   

Executives from Ho-Chunk Inc., the economic development corporation of the Winnebago Tribe of Nebraska, broke ground on Flatwater Crossing, a 200-acre master planned community along the Missouri River, in June 2015. Ho-Chunk Inc owns Indianz.Com. Photo: HCI

Attorneys Gabe Galanda and Little Fawn Boland urge Indian Country to lobby the incoming administration of Republican president-elect Donald Trump to ensure the New Markets Tax Credit program benefits tribal communities:
Our continued advocacy is important, especially as the Trump Administration and Congress pledge to re-write the U.S. tax code. President-elect Donald Trump campaigned on the idea that tax credits could be deployed to pay for infrastructure projects throughout the country. He pledged tax relief to rural America. Permanent codification of the NMTC (and Low Income Housing Tax Credit) programs dovetails with those promises, and is supported by the dollars invested and jobs already created in Indian country through tax credit-backed projects.

More generally, Indian country needs greater access to capital, with too many tribal people still lacking access to basic infrastructure. So in addition to specifically asking the Trump Administration and Congress to make NMTCs permanent, Native leaders must remind federal officials, including those leading the CDFI Fund, about the ongoing need for increased capital access in Indian country.

And while federal advocacy in all forms—phone calls, emails, Hill visits, site visits—is important, the best way to demonstrate the ongoing need for NMTCs is to utilize them. If you are on the path to developing a new community or business facility on trust land that creates new, quality jobs, get in touch with Travois, which is presently the lone CDE with a NMTC allocation dedicated exclusively to Indian country. The better the project, the better the jobs, the louder and clearer the tribal demand for NMTCs will be to officials in Washington.

Read More on the Story:
Gabriel S. Galanda & Little Fawn Boland: Let’s Seize New Markets Tax Credit Opportunities (Indian Country Today 12/24)

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