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Bessent Defends Cuts To Community Fund Amid Scrutiny

By Stephen K. Cooper ( May 7, 2025, 7:18 PM EDT) -- U.S. Treasury Secretary Scott Bessent on Wednesday defended the Trump administration's proposal to significantly slash the fund that operates the new markets tax credit, which is meant to boost investment in poor communities, telling lawmakers that a new $100 million program would better support affordable financing in rural areas....

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