Opportunity and Revitalization Council
Treasury Department Should Establish “Regulatory Guardrails” to Guarantee That Low-Income People Will Benefit from Opportunity Zones On December 12, President Donald Trump signed an Executive Order establishing the White House Opportunity and Revitalization Council, to be chaired by HUD Secretary Ben Carson. The primary purpose of the Council will be to target existing federal programs to Opportunity Zones, distressed communities where capital gains tax relief will be provided to individuals and corporations that invest in them. Opportunity Zones were created by the 2017 Tax Cuts and Jobs Act. Representatives from 13 federal agencies will comprise the Council, which will be convened by the vice chair, Assistant to the President for Domestic Policy Andrew Bremberg. Secretary Carson will designate a HUD officer or employee to serve as executive director. The Council’s expenses will be met from HUD’s existing appropriation. Read the full article
