Is it possible that Benjamin’s concept of the “Jetztzeit” (lit. “now-time”) in the Theses is meant to evoke a contrast with “Neuzeit” (modernity, lit. “new-time”)? That would seem to fit well with the distinction between the liberal-progressive concept of time and messianic time.
The German text does not appear to include the word “Neuzeit,” but of course “Jetztzeit” appears in several places.