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U.S. GAO - Opportunity Zones: Improved Oversight Needed to Evaluate Tax Expenditure Performance

www.gao.gov

Congress created Opportunity Zones to spur investment in distressed communities. About 10% of Americans live in the nearly 9,000 zones.In these areas, certain business investments can bring significant tax benefits to the investor. Unlike other, similar tax incentives, there is no limit on the amounts investors can claim for tax breaks.But how will opportunity zone investments actually affect these communities? Congress should consider having the Treasury Department collect whatever data is needed to find out.Example of development in an Opportunity Zone in Washington, D.C.Congress created Opportunity Zones (OZ)—a tax expenditure that reduces taxpayers' liabilities and federal revenues—to spur investment in distressed communities.

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