WASHINGTON — President Trump directed federal agencies on Wednesday to steer spending toward certain distressed communities across the country — part of his administration’s push to turn a tax break included in last year’s $1.5 trillion tax package into a broader effort to combat poverty and geographic inequality.
Mr. Trump signed an executive order at the White House to push federal resources to so-called opportunity zones — a small but lucrative provision tucked into his signature tax cut that in recent months has vaulted to prominence among real estate developers and other investors.
Mr. Trump told attendees at the meeting that the zones would receive “massive incentives” for private-sector investment. He said the goal of the order was to help “draw investment into neglected and underserved communities of America so that all Americans regardless of ZIP code have access to the American dream.”
The New York Times
By Jim Tankersley
Dec. 12, 2018