Wealthy Steer Billions To Trump Tax Break in December Frenzy (1)

The controversy keeps mounting over a new tax break for investing in poor U.S. communities. But investors keep piling in.

They just pumped $2.26 billion into funds that are planning to take advantage of “opportunity zone” tax incentives, a 51% jump from early December, according to a survey released Thursday from tax adviser Novogradac. To line up the full benefit, investors had to commit their capital by the end of last year. But the figure also rose because the survey’s sample included more funds and because respondents updated how much they raised.

“It’s been a pretty steady rise,” said Michael ...