Last month the White House Council of Economic Advisors released the 2024 Economic Report of the President. The extensive annual report presents the Administration's economic policies and provides an overview of the nation's economic progress.

Among several challenges addressed in the report was expanding access to housing and creating new affordable housing. One of the ways the report highlights to address housing supply is through existing economic development incentives, like the federal Historic Tax Credit (HTC). The report notes the use of the HTC to rehabilitate historic properties that result in new or renovated housing supply. The report goes on to highlight that the HTC has rehabilitated more than 300,000 housing units and created more than 343,000 new housing units since inception, 192,000 of which are low and moderate income units. Additionally, the report cites in 2021 the National Park Service certified 1,063 historic rehabilitation projects, of which nearly 80% were in economically distressed areas.

The report also notes that rehabilitation projects provide a better return on investment and produce 50-75% fewer carbon emissions than new construction.

Check out the full report for more!

Last week, the US Supreme Court refused to hear a pair of cases that could have limited presidential authority to establish new national monuments under the Antiquities Act. Review of two lawsuits were sought before the court challenging the expansion and management plans of the Cascade-Siskiyou National Monument in Oregon. A group of Republican lawmakers submitted an amicus brief in support of the lawsuits.

While courts have long sided with Presidents, affirming their authority to designate new national monuments, challenges remain. Opponents of the Antiquities Act hope to bring another case to the Supreme Court, challenging President Biden's decision to redesignate Grand Staircase-Escalante National Monument and Bears Ears National Monument in Utah. In August, a federal judge upheld these designations, again affirming Presidential authority under the Antiquities Act.

Additionally, current legislation being considered in the House and Senate would limit the effectiveness of the Antiquities Act and restrict the President's authority to establish future national monuments. The Congressional Oversight of the Antiquities Act (H.R. 5499, S. 2820) was considered as part of a House Natural Resources Federal Lands Subcommittee legislative hearing last month.

The Antiquities Act was established in 1906 and has been used by nearly every President, both Democrats and Republicans, to protect some of our nation's most treasured natural landscapes, historic sites, and cultural heritage.

Legislation was recently introduced in the Michigan House that would significantly improve and expand their state Historic Tax Credit. Most notably, HB 5430 would increase the current cap on the credit from $5 million annually to $100 million annually. The bill would also make other improvements to expand the effectiveness of the program, like increasing the credit from 25% to 30% for small projects, and distributing the credits based on project size.

After Michigan's Historic Tax Credit was phased out in 2011, advocates led a multi-year effort to reinstate the program. In 2020, the Michigan Legislature passed legislation again establishing a 25% historic tax credit for income producing properties and residential properties. The major drawback was that the credit was capped at $5 million annually, an amount that is woefully inadequate to keep up with demand. In 2022 commercial credits were claimed within just 5 hours of being opened.

The Michigan Historic Preservation Network is helping to lead the advocacy efforts to get this important bill across the finish line. Check out their advocacy page to read the full bill, see a fact sheet about the bill, and find out how you can take action!

On behalf of Preservation Action and the National Conference of State Historic Preservation Officers, thanks to all of our attendees, speakers, sponsors and everyone for helping to make National Historic Preservation Advocacy Week a huge success! We welcomed over 160 attendees, from 44 states and territories, and conducted more than 200 congressional office visits.

Complete Your Hill Report Forms and Follow-up!

For Advocacy Week attendees, now is the time for the important follow-up from your congressional office visits. As we heard from several panelists this year, following up on your visits is critical in continuing your advocacy and creating a relationship with your members. Be sure to thank offices and to follow-up with any promised information or materials.

Additionally,  please complete a hill report form online for each of your meetings. Knowing who you met with and how those meetings went is essential for our continued advocacy. The reports only take a few minutes and can be easily completed online.

Commercial Search: "Can Adaptive Reuse Revitalize US Cities?"

Georgia: "Georgia Trust Successfully Spearheads Effort to Pass New Historic Rehabilitation Tax Credit Legislation"

Massachusetts: "US Asks Fisherman to Save WWII Warship, Historic Wrecks by Protecting Underwater Time Capsule"

Idaho: "Idahoans Urged to Provide Input on Idaho Historic Preservation Plan Through Survey"

Hawaii: "Students Use AI to Preserve Lahaina's Historical Architecture"