Opportunity Zones program is under fire
Lawmakers created the program in an effort to help low-income communities, and the provisions in the 2017 tax law on opportunity zones were based on bipartisan legislation. But Democrats have become increasingly critical of the program in recent months, following news reports about how wealthy people are benefiting from the program.Representatives Alexandria Ocasio-Cortez and Rashida Tlaib are hoping to repeal the controversial Opportunity Zones program that brings certain tax breaks to investments in new development projects that are located in designated economically-distressed areas, The Hill reports. Though passed with bipartisan support in 2017, the program has faced criticism in recent months as some of the projects funded by these investments, including luxury apartment towers, have come to light.
Lawmakers created the program in an effort to help low-income communities, and the provisions in the 2017 tax law on opportunity zones were based on bipartisan legislation. But Democrats have become increasingly critical of the program in recent months, following news reports about how wealthy people are benefiting from the program.
Representatives Alexandria Ocasio-Cortez and Rashida Tlaib are hoping to repeal the controversial Opportunity Zones program that brings certain tax breaks to investments in new development projects that are located in designated economically-distressed areas, The Hill reports. Though passed with bipartisan support in 2017, the program has faced criticism in recent months as some of the projects funded by these investments, including luxury apartment towers, have come to light.
