Each year, millions of travelers visit America’s historic places. The National Trust for Historic Preservation defines heritage tourism as “traveling to experience the places, artifacts, and activities that authentically represent the stories and people of the past and present.” A high percentage of domestic and international travelers participate in cultural and/or heritage activities while traveling, and those that do stay longer, spend more, and travel more often.
As Congress weighs various proposals for tax reform, ACHP Chairman Milford Wayne Donaldson has asked the House Ways and Means Committee to consider the past success and future potential of the federal historic rehabilitation tax credit.
Since 1976, more than 41,000 projects throughout the U.S. have benefited from the tax credit, generating $78.3 billion in investment and creating nearly 2.4 million jobs. The credit also pays for itself, with the $23.1 billion cost of the program offset by the $28.1 billion in tax receipts generated by projects receiving the credit.
