Stemming from the Tax Cuts and Jobs Act of 2017, Opportunity Zones were created to help spur investment in distressed communities. There is estimated to be $2 trillion worth of unrealized capital gains “sitting on the sidelines” with the potential to unleash this for investment across America in distressed, low-income communities. Once accumulated and deployed, this capital will help rejuvenate these micro-economies, stimulate growth and help level the playing field for those living and doing business in low-income communities. Not uncommon in the U.S., tax policy is playing a central role in helping to how we administer public policy around creating economic growth. CohnReznick’s Ira Weinstein and Beth Mullen discuss this innovate policy. Hear the program background, how it works, advantages, tax implications and other useful information in this conversational 25-minute recording.
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