Tim Scott on Opportunity Zones: ‘We Should All Say Thank You to President Trump for His Desire to Help People Living in Impoverished Areas’

EXCERPT:

KILMEADE: “Senator Scott, this is a program that shows the federal government really can't help when it comes to poverty but the private sector can. How does that factor into your program?"
SCOTT: "Brian, I think you said it very well. The bottom line is we should all say thank you to President Trump for his desire to help people living in Impoverished areas. One of the ways that we do that through the creation of opportunity zones where we attract private sector capital through a tax deferral of their capital gains tax, up to 10 years, if you make it a long-term investment in one of the poor areas, the fact of the matter, that tax today is around 24 percent. This is significant motivating factor for folks in a private sector who know how to create jobs, who know how to create opportunities to do so in some of the most distressed communities in America."