Washington, D.C. – Today, House Ways and Means Committee Chairman Kevin Brady (R-TX) issued the following statement after the Treasury Department released proposed regulations concerning “Opportunity Zones,” a provision of the Tax Cuts and Jobs Act:
“The new Opportunity Zone provision is an important part of tax reform, reflecting our commitment to spur growth in every corner of our country for years to come. This provision creates a targeted incentive for private investors to make long-term investments into communities facing economic hardships. It will stimulate growth and innovation while helping hardworking families get ahead and thrive in this growing economy.
“I want to applaud Secretary Mnuchin and his team for their work to issue these proposed regulations, which provide technical guidance needed to facilitate investments in Opportunity Zones. And I encourage stakeholders to provide feedback during the comment period on the proposed regulations, including identifying any areas where additional technical guidance would be valuable in providing certainty to potential investors and project managers.”