The Tax Cuts and Jobs Act created new Opportunity Zones designed to funnel much-needed investment to distressed communities. Investors and community advocates alike cheered the new approach, hoping that it would help long-distressed communities attract capital and jumpstart development.
But amid the optimism are skeptics, who warn that Opportunity Zones are poorly designed to generate new investment and will amount to little more than a giveaway to wealthy investors looking to avoid taxes.
