Tuesday
July 9
2019

White House Touts Help For Poor Areas — But Questions Endure Over Who’ll Benefit

By Ayesha Rascoe

Tucked into the 2017 law intended to cut Americans’ taxes was a program aimed at helping communities struggling with high unemployment and run-down housing.

What’s not clear is who’s actually getting the most assistance from it.

The program allows investors to defer and potentially lower their capital gains taxes in exchange for investing in designated low-income neighborhoods.

Supporters of these zones on both sides of the aisle say they are creating jobs and making a difference in places that might otherwise be left behind.

President Trump often refers to the program when talking about what his administration has done for struggling rural and urban communities — and as a part of his outreach to black Americans.

Photo courtesy of Yianni Mathioudakis.

Source: NPR (link opens in a new window)

Categories
Finance
Tags
housing, poverty alleviation, public policy, rural development, urban development