(WJHL) – A new plan could hurt Virginia communities. Senators Mark Warner and Tim Kaine say the House Republicans’ tax plan would eliminate the federal historic tax credit, which communities across Virginia use to draw in new business, create jobs and revitalized cities and towns.
The credit has benefited projects in Bristol, Abingdon, Chilhowie, Danville, Glade Spring, Marion, Pulaski, Tazewell, and Wytheville.
Senator Warner says he has co-sponsored a measure that would amend the tax plan to protect and expand the tax credit.
For a more comprehensive of the areas that have benefited from this tax credit, Virginia Historic Tax Credit Projects (.pdf).