The Exponent Telegram: CORE Act Spurs Senator to Discuss Economic Strategy of Historic Tax Credits

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By Brittany Murray / The Exponent Telegram

CLARKSBURG — West Virginia legislators are pushing to revive the Creating Opportunities for Rural Economies (CORE) Act in the U.S. Senate and U.S. House of Representatives, in hopes to revitalize the state’s communities that have suffered from job loss in the coal industry.

“The CORE is simply a dedication of the existing New Market Tax Credit (NMTC) that started in 2000,” state Sen. Mike Romano, D-Harrison, said. “According to the legislation that’s being introduced, they want to set aside 5 percent of those credits to benefit rural communities.”

The bill was first introduced in 2016 by U.S. Sen. Shelley Moore Capito, R-W.Va., and state legislators are now getting behind the bill, as well.

Read the full story at www.theet.com.

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