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Opportunity Zones were created under the 2017 Tax Cuts and Jobs Act, signed into law by President Donald Trump. The first Opportunity Zones were designated in April 2018. [4] There are 8,764 Opportunity Zones in the 50 states, and five U.S. possessions, including American Samoa, Guam, Northern Mariana Islands, Puerto Rico, and the Virgin ...
The program, created as part of the Trump-era tax cuts, is meant to encourage investment in low-income areas. Some fruits of the program are being reaped here in Columbia.
Senator Tim Scott is announcing a new effort to keep the Opportunity Zones high-profile - and even signaling an openness to changes - as the Biden administration prepares to take it over.
Sen Tim Scott (R-S.C.) ... After that meeting, Trump and Scott also worked on passing opportunity zones as part of Trump’s 2017 tax cuts. During his interview with Fox, he credited that original ...
Scott at the 2023 Judge Joseph Story Dinner, Cambridge, Iowa. Scott announced the formation of an exploratory committee for the Republican presidential nomination on April 11, 2023. [10] At the same time, he released a video describing his biography and saying, "I know America is a land of opportunity, not a land of oppression". [11]
During Trump’s first term in the White House, Scott was credited for ensuring the president’s criminal justice reform law, The First Step Act, included Opportunity Zones.
Scott lists his top accomplishment in the Senate such as the inclusion of opportunity zones in the Trump-era tax cut law, an initiative encouraging wealthier developers to invest in poor areas.
A person close to the senator pointed out that Trump and Scott have a long-standing relationship from Trump’s time in office, when they worked together on tax cuts, opportunity zones, increased ...