GOP proposal to kill tax credit could fundamentally reshape historic preservation in US
Ronald Reagan put the historic tax credit into the U.S. tax code. Donald Trump’s company tried to use it.
Now Republicans are fighting to get rid of it.
Once crumbling reminders of the past, nearly a dozen glitzy Art Deco hotels along Miami Beach have benefited from the credit, which could be wiped out in the Republican tax bill. Well-known landmarks throughout America have also taken advantage of the break, from San Francisco’s famed Ferry Building to Asheville, North Carolina’s Grove Arcade and a horse barn at the Biltmore Estate.