Historic tax credit saved in tax bill

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LEXINGTON, Va. (WDBJ7) There were a lot of provisions in the Republican tax bill the President signed.

One of them continued a tax credit for work on preserving historic buildings, something that has been used on quite a few restorations in our area.

Experts here were concerned when the credit was at first removed from the tax plan, but the conference bill that passed both the Senate and House saved the provision.

"There was a lot of discussion in Congress that it should come out and it cost money," says Don Hasfurther of the Historic Lexington Foundation: "But in reality, a study done by the National Trust for Historic Preservation says that it returns $1.25 in taxes for every dollar invested in the program."

In Lexington alone, more than 20 buildings have been restored using the historic tax credit.