It is tempting to assume that if some historic tax credits (HTCs) are good, then more HTCs are better. Several public policy studies support this position. According to some studies, an active state tax credit program boosts the use of the federal program, on average, by between $15 million and $35 million in certified expenditures. Put another way, states with active tax credit programs bring in $3 million to $7 million in federal dollars that would not otherwise be available. As public policy, a state credit, like the federal credit, makes sense, for promoting investment in the redevelopment of older and historic buildings. Without the investment, there is no benefit, and the size of the benefit is directly proportional to the size of the investment.