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An Opportunity Zone is a designation and investment program created by the Tax Cuts and Jobs Act of 2017 allowing for certain investments in lower income areas to have tax advantages. The purpose of this program is to put capital to work that would otherwise be locked up due to the asset holder's unwillingness to trigger a capital gains tax .
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.
Turner in 2019 at The White House Opportunity Zones Conference with President Donald Trump (right) In 2019, President Donald Trump appointed Turner as the director of the White House Opportunity and Revitalization Council, created by Executive Order 13853. [24] [25] [17] [3]
For the 2016 presidential election, Parker created a social ballot guide for voters to help each other pledge to vote. [97] Parker was also a driving force behind the Opportunity Zones provision in the Tax Cuts and Jobs Act of 2017, which are designed to incentivize investments in struggling American communities. [98]
The 2017 Republican tax package created an Opportunity Zone program that provides tax breaks for real estate developers in specially designated, low-income neighborhoods. President Trump has ...
Governors have until today to nominate “opportunity zones” that are intended to bring investment capital and jobs to low-income communities in their states. The GOP tax bill established rules ...
The institute has held several events regarding opportunity zones created by the Tax Cuts and Jobs Act of 2017.In May 2018, Treasury Secretary Steven Mnuchin instructed his staff to accept a non-low-income tract in Storey County, Nevada as an Opportunity Zone shortly after attending an Institute event in Beverly Hills with Michael Milken. [20]
And the Opportunity Zones, often cited by Trump as one of his best economic policy achievements, have delivered uneven opportunities to residents of low-income areas, and the program’s ...