Ocasio-Cortez, Tlaib propose amendment to defund administration of 'opportunity zone' program

Ocasio-Cortez, Tlaib propose amendment to defund administration of 'opportunity zone' program
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Progressive Reps. Alexandria Ocasio-CortezAlexandria Ocasio-CortezHouse Democrats push to create public reminder of Jan. 6 riot Team Biden offers alternative reality on border crisis with no plan to fix it Progressives' majority delusions politically costly MORE (D-N.Y.) and Rashida TlaibRashida Harbi TlaibHouse Democrats push to create public reminder of Jan. 6 riot Sinema pushes back on criticism of her vote against minimum wage Progressives push White House to overturn wage ruling MORE (D-Mich.) this week proposed an amendment that would prevent the IRS from using funds to administer or enforce the "opportunity zone" program created by President TrumpDonald TrumpTrump vows 'No more money for RINOS,' instead encouraging donations to his PAC Federal judge rules 'QAnon shaman' too dangerous to be released from jail Pelosi says Capitol riot was one of the most difficult moments of her career MORE's 2017 tax-cut law.

The lawmakers are proposing that their amendment be added to an appropriations bill that includes funding for the Treasury Department and IRS. The House Rules Committee is scheduled to meet Monday to determine which amendments proposed by lawmakers will be made in order.

Under the opportunity zone program, investors can receive capital gains tax breaks if they make investments in designated economically-distressed areas.


Lawmakers created the program in an effort to help low-income communities, and the provisions in the 2017 tax law on opportunity zones were based on bipartisan legislation. But Democrats have become increasingly critical of the program in recent months, following news reports about how wealthy people are benefiting from the program.

Tlaib introduced a bill in November to repeal the opportunity zone program. She said at the time that the program "fails to drive real benefits to low-income communities, instead often rewarding President Trump’s donors." 

Other Democratic lawmakers have offered bills that wouldn't eliminate the program but would increase guardrails and reporting requirements.

Republicans back increasing reporting requirements about investments in opportunity zones, and continue to be  supportive of the program.

Rep. Kevin BradyKevin Patrick BradySenate panel unanimously advances top Biden economic nominees Foreign perpetrators among fraudsters shamming state's unemployment systems Biden nominee previews post-Trump trade agenda MORE (Texas), the top Republican on the House Ways and Means Committee, criticized the amendment proposed by Ocasio-Cortez and Tlaib in a tweet Friday, arguing that the amendment would hurt poor communities. 


Lawmakers have proposed a number of amendments to the appropriations bill.

An amendment from Reps. Suzan DelBeneSuzan Kay DelBeneHillicon Valley: Chip order inbound | Biden asks for more time on WeChat | New IoT bill introduced Lawmakers introduce bipartisan bill to allow for increased use of internet-connected devices New state privacy initiatives turn up heat on Congress MORE (D-Wash.) and Jackie SpeierKaren (Jackie) Lorraine Jacqueline SpeierBill introduced to create RBG monument on Capitol Hill Why labeling domestic extremists 'terrorists' could backfire Hillicon Valley: Google lifting ban on political ads | DHS taking steps on cybersecurity | Controversy over TV 'misinformation rumor mills' MORE (D-Calif.) would increase funding for the IRS's operations support so that the agency has more capacity to address cases in which taxpayers have not yet received their stimulus payments.

Rep. Bob GibbsRobert (Bob) Brian GibbsREAD: The Republicans who voted to challenge election results Top GOP lawmakers call for Swalwell to be removed from Intelligence Committee House Republicans ask Amtrak CEO for information on Biden's train trips MORE (R-Ohio) proposed an amendment to require political organizations that are ineligible for Paycheck Protection Program loans to return any funds they received under the program by Dec. 31.