From the Morning Memo:

One item eliminated in the federal tax reform legislation has many upstate developers concerned. On the House floor yesterday, Rep. Brian Higgins, a Buffalo Democrat, issued a call to preserve Historic Tax Credits.

Higgins, a member of the tax-writing Ways and Means Committee, said the credits pay for themselves. In fact, he said, they generate $1.20 for every $1 credited by the federal government.

“When historic buildings are renewed, including in my community of Buffalo, New York, Main Streets across America are restored, jobs are created, and business, income and property tax revenues are generated,” Higgins said.

“The federal Historic Tax Credit does, in fact, pay for itself and more by helping cities and communities to become economically independent and self-sufficient.”

In a press release, Higgins cited a National Parks Service report that Historic Tax Credit-related investments generated 86,000 jobs and $3.5 billion in income nationwide for the 2015 fiscal year. He said New York state utilized more of the dollars, $748 million, than any other state.

The congressman said his Western New York region has also led the state in the past five years with 88 total projects.

One Buffalo-area developer, Rocco Termini, told Spectrum News if the credits aren’t restored it will paralyze upstate cities.

Both Higgins and one of his Republican colleagues, Rep. Tom Reed, have vowed to fight for Historic Tax Credits in Western New York and the Southern Tier.

Although both are members of Ways and Means, which helped craft the tax bill, neither are on the committee to reconcile the differences between the House and Senate bills.