On the recordMay 17, 2004
H.R. 4193 that we are considering today, while making some simple changes to the tax code, would provide considerable positive impact to our low-income and distressed areas for years to come. I strongly support this measure, which would inject much-needed wealth into low-income and poverty-stricken areas through the creation of jobs and opportunities, where few now exist. I want to draw your attention to section 2 of the bill, which provides a much-needed correction to the tax code for dealing with what's called the New Markets Tax Credit. This credit is designed to encourage taxpayers to invest in economically-distressed communities that have been designated as Empowerment Zones.
Source
govinfo.gov
