Investors and tax practitioners see President-elect Donald Trump’s return to the White House and a Republican-led Congress as an opening to boost the opportunity zone tax incentive that aims to reward investment in underserved communities.
Jake Murphy, deputy communications director to Sen. Tim Scott (R-S.C.), told Bloomberg Tax after Trump’s Nov. 5 win that Scott, who co-authored the opportunity zone program included in the 2017 federal tax law, “looks forward” to working with Trump and other Republican lawmakers to “broaden and extend” the tax break rather than letting it expire in 2026 as scheduled.
Opportunity ...
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