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Trump's Tax Plan Threatens Historic Tax Credits

The proposed tax plan in Washington would kill historic tax credits, which are vital incentives that help rebuild old neighborhoods and spur economic development.

By Kelsi Maree Borland | Updated on November 21, 2017

Los Angeles Los Angeles

The Trump Administration’s proposed tax plan would cut historic tax credits. Historic tax credits give a 20% discount to developers redeveloping historic properties and a 10% discount to developers revitalizing old properties not listed on the historic register. John D. Lesak, architect and principal with Page & Turnbull, and Carolyn Kiernat, an architect and principal with Page & Turnbull, say that these tax credits incentivize preservation and revitalize neighborhoods as well as spur economic development. We sat down with Kiernat and Lesak to talk about the consequences of cutting these tax credits and the benefits of keeping them.

GlobeSt.com: Can you give me a little background on the historic tax credits?

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