Lawrence agreed, saying his group has already gathered data on the effect of the new markets tax credit, which provides an incentive for investing in low-income areas. In one case, the credit helped secure financing to renovate an old factory in Baltimore. It’s now a space used as housing for public teachers and for Teach for America.
“Demand has been growing,” Lawrence said. “These are all defensible tax provisions that should be extended.”
Vice President Joe Biden waits to conduct a mock swearing-in ceremony with Sen. Brian Schatz, D-Hawaii, in the Capitol's Old Senate Chamber, December 2, 2014. Schatz was sworn in to serve the remainder of his term since he was appointed to the seat after Sen. Daniel Inouye, D-Hawaii, passed away.