House Ways and Means Chairman Richard Neal, D-Mass. (Photo: Anna Moneymaker/Bloomberg)
The Opportunity zone program created by the 2017 tax cut legislation is coming under fire from a growing number of lawmakers, including two who were original sponsors of the program.
Sen. Ron Wyden, D-Ore., introduced a bill this week that would make it more difficult for developments already underway before the legislation took effect to qualify for the tax breaks afforded to investments in opportunity zones. The bill would also disqualify about 200 zones that are contiguous with opportunity zones but not low-income and add sports stadiums to the list of disqualifying businesses types.
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Bernice Napach
Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.
