WASHINGTON, April 8 -- Sen. Tim Scott issued the following press release:
U.S. Senator Tim Scott (R-SC) highlighted the continued success and expansion of the Opportunity Zone (OZ) program, originally authored by Sen. Scott as part of the Tax Cuts and Jobs Act of 2017, as South Carolina begins the next phase of Opportunity Zone nominations under recently updated federal law through the Working Families Tax Cuts.
Sen. Scott created the Opportunity Zone program to drive long-term private investment into low-income and distressed communities by offering targeted tax incentives. Since its enactment, the program has spurred billions of dollars in investment nationwide, supporting job creation, small businesses, and economic revitalization in c...