Max Mittleman
Blog: Opportunity Zones in Detroit
In 2017, Congress passed the Tax Cuts and Jobs Act. Within that voluminous piece of legislation was a relatively small provision that received bipartisan support, called the Investing in Opportunity Act. Through the provision, investors are able to defer and reduce their tax burden on capital gains by investing the proceeds in areas called Opportunity Zones. The goal of the provision is simple: spur economic investment in low-income communities.
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