flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Architects to Congress: ‘You're making a terrible mistake’

Architects

Architects to Congress: ‘You're making a terrible mistake’

House and Senate gut historic building credits and penalize architecture firms.


By AIA | December 4, 2017
Architects to Congress: ‘You're making a terrible mistake’
Architects to Congress: ‘You're making a terrible mistake’

December 3, 2017 - The American Institute of Architects (AIA) will lobby aggressively in coming days against significant inequities in both the House and Senate versions of the Tax Cuts and Jobs Act, just as the legislation heads into conference.

The House legislation abolishes the Historic Tax Credit (HTC), vital to the revitalization of America’s city centers and widely hailed as an economic engine since the Reagan Administration put them into place more than three decades ago. The Senate bill eliminates the current 10 percent credit for pre-1936 structures, and significantly dilutes the current 20 percent credit for certified historic structures by spreading it over a five-year period.

The Senate's tax reform bill allows small businesses that are organized as “pass through” companies (i.e. partnerships, sole proprietorships and S-Corporations) to reduce income through a 23 percent deduction. But, like the House-passed bill, the Senate bill totally excludes certain professional services companies - including all but the smallest architecture firms - from tax relief.

AIA 2017 President Thomas Vonier, FAIA, says:

"By weakening the Historic Tax Credits, Congress and the Administration will hurt historic rehabilitation projects all across the country - something to which architects have been committed for decades. Since 1976, the HTCs have generated some $132 billion in private investment, involving nearly 43,000 projects. The Historic Tax Credit is fundamental to maintaining America's architectural heritage.

"Unfortunately, both bills for some reason continue to exclude architects and other small business service professions by name from lower tax rates. There's no public policy reason to do this. Design and construction firms do much more than provide a service; they produce a major component of the nation's gross domestic product and are a major catalyst for job growth.

"Our members across the country are already mobilized to make sure their Congressional delegations know these views. In the coming days, we will spare no effort to make sure members of the House-Senate conference committee know the views of the AIA's more than 90,000 members on the inequities in both pieces of legislation

"We say this again: tax reforms must achieve three basic goals to ensure the vitality of small business and the health, safety and welfare of our communities:

·   Preserve tax policies that support and strengthen small businesses.

·   Support innovative, economically vibrant, sustainable and resilient buildings and communities.

·   Ensure fairness.

"So far, this legislation still falls well short of these goals. If passed, Congress would be making a terrible mistake."

Tags

Related Stories

Building Team | Jul 18, 2022

Understanding the growing design-build market

FMI’s new analysis of the design-build market forecast for the next fives years shows that this delivery method will continue to grow, despite challenges from the COVID-19 pandemic.

Mixed-Use | Jul 18, 2022

Mixed-use development outside Prague uses a material made from leftover bricks

Outside Prague, the Sugar Factory, a mixed-used residential development with public space, marks the largest project to use the sustainable material Rebetong. 

Building Team | Jul 15, 2022

ABC: Construction materials prices increased in June, up 20% from a year ago

Construction input prices increased 1.9% in June compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today.

Arenas | Jul 15, 2022

U. of Oregon renovation aims for ‘finest track and field facility in the world’

The renovation of the University of Oregon’s Hayward Field had the goal of creating the “finest track and field facility in the world.”

Building Team | Jul 14, 2022

ABC’s construction backlog inches lower in June; Contractor confidence falters

Associated Builders and Contractors reports today that its Construction Backlog Indicator fell 0.1 months in June and stands at 8.9 months, according to an ABC member survey conducted June 21 to July 5.

Sustainable Development | Jul 14, 2022

Designing for climate change and inclusion, with CBT Architects' Kishore Varanasi and Devanshi Purohit

Climate change is having a dramatic impact on urban design, in terms of planning, materials, occupant use, location, and the long-term effect of buildings on the environment. Joining BD+C's John Caulfield to discuss this topic are two experts from the Boston-based CBT Architects: Kishore Varanasi, a Principal and director of urban design; and Devanshi Purohit, an Associate Principal.

Multifamily Housing | Jul 14, 2022

Multifamily rents rise again in June, Yardi Matrix reports

Average U.S. multifamily rents rose another $19 in June to edge over $1,700 for the first time ever, according to the latest Yardi® Matrix Multifamily Report.

Building Team | Jul 14, 2022

Austin PBS gets a new state-of-the-art facility with three studios

Since the 1970s, Austin PBS, birthplace of the Austin City Limits TV series, has been based inside the communications building on the University of Texas campus—a space it has long outgrown.

Building Team | Jul 13, 2022

The YIMBY movement emerges as valuable advocate for affordable housing

Over the past few decades, developers grew accustomed to nothing but staunch opposition to dense affordable housing project proposals.

Energy | Jul 13, 2022

Electrification of buildings, new and old, furthers environmental responsibility and equity

 It’s almost a cliché in our industry, but nonetheless: The greenest building is the one that is already built. 

boombox1
boombox2
native1

More In Category




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021