Will ‘Opportunity Zones’ Help Rich, Poor or Both?: QuickTake

Feb. 14, 2019, 5:42 PM

Buried in the Republican tax overhaul that President Donald Trump signed into law in late 2017 are incentives for investors who fund businesses or develop real estate in new “opportunity zones.” Banks, private equity firms, insurance companies and wealthy individuals are rushing to take advantage. Critics have raised questions about whether the tax breaks will spur development in places that really need it or just stimulate growth in communities that were destined to see investment anyway. One of the more controversial sites is the New York City zone where Amazon had planned a new headquarters— before it walked away in...

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