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Liberal congresswomen Alexandria Ocasio-Cortez and Rashida Tlaib filed an amendment to a House spending package on Wednesday that would defund the "opportunity zone" program created by President Trump's 2017 tax law.
The amendment, if made into law, would prohibit the Internal Revenue Service from using any funds in a large House spending bill, which is currently under consideration, to administer or enforce the opportunity zone program, a tax break created by the 2017 tax bill meant to revitalize poor communities through private investments.
The tax incentive was created to benefit poor neighborhoods. Democrats opposed the measure and have drawn attention to reports that very wealthy people, such as financier Michael Milken, have taken advantage of opportunity zone designations. ProPublica reported last November that a “superyacht marina” qualified as an opportunity zone. Because there is no requirement to provide an overarching view of how the zones are working, the prevalence of such examples is unknown.
Ocasio-Cortez of New York and Tlaib of Michigan make up half of the liberal contingent of four Democratic women in Congress who call themselves “the Squad.” With the support of other liberal lawmakers and groups, Tlaib tried to repeal the opportunity zones program in 2019 but did not succeed.
AOC introduces amendment to defund Trump 'opportunity zones'
Makes sense because Democrats need to dismantle and then suggest their plan is better.
originally posted by: dawnstar
a reply to: rickymouse
Not really sure just what a super yacht marina is gonna do for a poor area. Sure, it might provide a few mechanics and others jobs if they are qualified to work at the marina but its not like those rich folks are gonna want to go off the boat and take the grand tour of the ghetto. Doubt if they will have much interest in any of the resturants there... just not fancy enough. So, those resturants will have to be replaced with new ones, fancier ones, more expensive ones. And, oh, the neighborhood is such an eyesore! All of those unkempt houses! They will have to be replaced also.. wouldnt a mansion look just grand right there?