WASHINGTON, DC - Today, Congressman Warren Davidson, member of the Financial Services Committee, applauded President Trump’s executive order creating the White House Opportunity and Revitalization Council.

 

“I look forward to this new Council expediting dollars to low-income communities to spark business growth and create jobs. Opportunity Zones are another example of a tax reform win that benefits Ohio families and American businesses. These Zones are an opportunity for distressed communities to tap a multitrillion-dollar pool of capital to support a wide range of opportunities for economic development. I applaud President Trump for creating this Council and for appointing HUD Secretary Carson to lead these efforts.” 

 

In April, Congressman Davidson submitted a list of census tracts in Ohio to the IRS in which he recommended for designation as Opportunity Zones. These included tracts located within the cities of Piqua, Middletown, Hamilton, Fairfield, and Springfield. You can read the letter here.

 

Background: President Trump hosted an event at the White House today where he signed an executive order to create the new Council, which will be led by HUD Secretary Ben Carson. Opportunity Zones were created by a provision in last year’s Tax Cuts and Jobs Act. The goal of Opportunity Zones is to attract investment for new businesses and jobs in underserved areas.

 

The purpose of the new Council is to improve revitalization efforts by streamlining, coordinating, and targeting existing Federal programs to economically distressed areas, including Opportunity Zones.

 

Read more about the new Council here.

 

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