|
Washington
–
During
today’s
Finance
Committee
hearing,
U.S.
Senator
Tim
Scott
(R-SC)
discussed
solutions
for
helping
low-income
and
impoverished
communities
across
the
nation,
including
his
new
Investing
in
Opportunity
Act
which
he
announced
last
month
with
Senator
Cory
Booker
(D-NJ)
and
Representatives
Pat
Tiberi
(R-OH)
and
Ron
Kind
(D-WI).
The
measure
will
create
a
new
model
for
unlocking
private
investment
in
economically
distressed
communities
in
every
state
throughout
the
country.
It
offers
a
temporary
capital
gains
deferral
in
exchange
for
reinvesting
those
dollars
into
distressed
communities.
Currently,
more
than
30
percent
of
South
Carolina’s population,
or
1.4
million
people,
live
in
an
economically
distressed
area,
a
number
that
rises
to
50
million
Americans
nationwide.
(Click
photo
or
HERE
to
watch
Senator
Scott’s
remarks
and
questions)
Senator
Scott’s
Opportunity
Agenda
now
includes
the Investing
in
Opportunity
Act,
as
well
as
the CHOICE
Act and LEAP
Act,
which
focus
on
education
and
workforce
development.
To
read
more
about
his
agenda,
visit https://www.scott.senate.gov/OpportunityAgenda.
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