In The News
Rubio and Scott: New federal tax law will help Miami’s low-income working families
Friday | April 20, 2018The new tax law has two provisions that will particularly empower working families. The Child Tax Credit will give American families back more of their own money. The Investing In Opportunity Act has the potential to power an economic renaissance in the communities left behind by the global economy. By working together, we can help restore hope and ensure that the next great American idea isn't lost because someone did not have the opportunity to share it. The tax law passed last year cut the … Continue Reading
‘Responsive to our unique needs’
Friday | April 13, 2018by Charles Warner
UNION COUNTY - Among the benefits of economic development and efforts to promote it is that it brings people together to improve the community and the lives of its residents and that's what the Opportunity Zone program is doing according to Union County Development Board Executive Director Kathy Jo Lancaster. On Friday, March 23, Gov. Henry McMaster announced the nomination of 135 Opportunity Zones throughout South Carolina including one in Union County. According to the South Carolina … Continue Reading
Officials optimistic on 'Opportunity Zone' program
Sunday | April 1, 2018by Bruce Mills
In a business environment where every dollar counts, Sumter and Lee County officials are hopeful a new federal tax incentive program will help spur industrial and commercial development in their communities by companies. Created in part by U.S. Sen. Tim Scott, R-S.C., a new Opportunity Zones program recently passed in a $1.3 trillion spending bill in Congress to encourage long-term private-sector investment in low-income census tracts across the U.S. Of South Carolina's 1,097 census tracts, … Continue Reading
Summerville, Ridgeville among S.C. locations nominated for community development program
Monday | March 26, 2018by Jenna Ley-Harrison
More than 130 low-income communities across the state, including a handful in Dorchester and Berkeley counties, have been proposed by Gov. Henry McMaster as possible "opportunity zones" that could see more private investment thanks to a federal tax incentive program meant to stir economic development in those areas. Most of the targeted locations are in need of added infrastructure and affordable housing, according to a press release from the governor's office. They are among 135 urban and … Continue Reading
'Opportunity zones' could transform S.C. communities
Saturday | March 24, 2018A bright idea for spurring investment in economically distressed areas, approved as part of the federal tax reform bill, has the potential to pump much-needed capital into some of the poorest communities in South Carolina and across the nation. With a little economic alchemy, Sen. Tim Scott, R-S.C., hopes to transform the problems of the rich into opportunities for the poor. Under his Investing in Opportunity Act, individuals and businesses can defer or reduce capital gains taxes by … Continue Reading
Aiken tract named to national 'opportunity zone' investment shortlist
Friday | March 23, 2018by Colin Demarest
Plans to revitalize economically ragged communities throughout South Carolina received a jolt from Gov. Henry McMaster on Friday morning. At a press conference in Ridgeway, McMaster announced he had submitted a list of 135 distressed areas within the state to the U.S. Department of the Treasury. The tracts on that list - known as "opportunity zones" under a new program included in the Tax Cuts and Jobs Act of 2017 - are eligible for tax incentives designed to spur hyper-local … Continue Reading
Struggling neighborhoods eligible for economic boost with 'Opportunity Zones' designation
Friday | March 23, 2018by Hannah Alani
When Ernest Pinckney was growing up in Union Heights during the 1940s and 1950s, the streets were unpaved, street lights didn't exist and the homes lacked running water. But business boomed. Barbershops, a fish market, shoe stores and a moving picture theater offered entertainment within walking distance. Young Pinckney walked down Spruill Avenue each morning to Four Mile Elementary, and each day, he passed his favorite store: a large, shining supermarket at the corner of Spruill and Joppa … Continue Reading
'This is a game changer': New federal program to help redevelopment along Grand Strand
Friday | March 23, 2018by Megan Tomasic and Alex Lang
A new federal program is set to help low-income areas along the Grand Strand. The program, known as opportunity zones, provides tax incentives to encourage long-term private investments. During a news conference Friday morning, Myrtle Beach Mayor Brenda Bethune announced two tracts in the City of Myrtle Beach that will benefit from the program. "It does include the Superblock area, and basically the two zones that were chosen for Myrtle Beach were from 21st Avenue North to 3rd Avenue South … Continue Reading
SC among first states to seek ‘Opportunity Zone’ status for economically-distressed communities
Friday | March 23, 2018by Matt Long
South Carolina is among the first states to submit communities eligible for the new federal "Opportunity Zone" program. Gov. Henry McMaster said Friday his office submitted the maximum number of economically-distressed communities to the U.S. Treasury Department so investors seeking to build businesses in those areas could be eligible for tax incentives. "This gives us the extra punch, the extra opportunity that will transform economic growth and development and one more tool to usher in a … Continue Reading
Opportunity zones program about to be tested in South Carolina
Thursday | March 22, 2018by Emma Dumain
WASHINGTON Sen. Tim Scott's new federal program encouraging businesses to invest in low-income communities will soon be tested around the country, but the stakes for the South Carolina Republican might be highest in his own state. The home turf scrutiny could begin as early as Friday morning. That's when South Carolina Gov. Henry McMaster will hold a press conference in Ridgeway, S.C. - in the shadow of the shuttered V.C. Summer nuclear power plant that cost the area nearly 5,000 jobs … Continue Reading
‘God Made Me Black on Purpose’
Friday | March 16, 2018by Tim Alberta
NORTH CHARLESTON, S.C. - At the end of Forest Avenue, a narrow artery slicing through blocks of muddy lots and decaying one-story homes, Tim Scott kicks at the gravel and waits. He had shared a table Saturday night with the world's wealthiest man, Jeff Bezos, at the annual dinner of Washington's Alfalfa Club, the ultra-exclusive gathering of the political and financial elite that began as a celebration of Confederate General Robert E. Lee's birthday. Now, it's Monday morning and the junior … Continue Reading
Companion GOP Bills Would Expand School Choice for Military Families
Friday | March 16, 2018by Natalie Johnson
Republican senators Tim Scott (S.C.) and Ben Sasse (Neb.) have announced companion legislation to a House measure that would expand school choice for military families in an attempt to ease the strain of frequent relocations. The bill, first introduced last week by Rep. Jim Banks (R., Ind.), would set up education savings accounts for parents in the armed forces who could divert a portion of funds that would have been sent to a public school on their child's behalf under the federal Impact … Continue Reading
Deadline Approaches on Tim Scott’s Low-Income Tax Incentive
Wednesday | March 14, 2018by Stephanie Akin
It took three years for Tim Scott to rally his Senate colleagues around a tax plan he thinks will encourage investment in low-income communities. Now Scott, who was born in a poor community in South Carolina, has until late March to get as many state officials as he can to sign on. He's doing it with a national "opportunity" tour of low-income areas, including upcoming visits to Florida and Ohio. His first stop was in the Chicora-Cherokee neighborhood of North Charleston, where his … Continue Reading
Sen. Tim Scott’s amendment in tax plan aims to help low-income communities without a gov’t program
Monday | March 12, 2018by Sally Persons
Sen. Tim Scott said Monday that his amendment aims to uplift communities in crisis without creating another government agency or program. "We could see major private sector dollars being invested in distressed communities - no new bureaucracy, no new government programs - simply an incentive package to provide access to opportunities for kids who grew up in single-parent households, like myself," Mr. Scott, South Carolina Republican, said on Fox News. The senator introduced the Investing in … Continue Reading
Finding opportunity for those in distressed communities
Friday | March 9, 2018Today, more than 52 million Americans live in a distressed community. I grew up in one of those neighborhoods, where hope seemed like nothing more than a mirage. I watched so many friends and neighbors lose the sense that they could accomplish something meaningful, and end up in jail, or worse, dead. At the same time, I watched my mom work 16-hour days just to keep a roof over her children's heads, showing the kind of passion and work ethic on which the American Dream is built. I know that … Continue Reading
Scott, Booker introduce sickle cell disease legislation
Wednesday | March 7, 2018U.S. Senators Tim Scott (R-SC) and Cory Booker (D-NJ) have introduced a new initiative in the fight against sickle cell disease - the Sickle Cell Disease Research, Surveillance, Prevention and Treatment Act. There is currently no national framework in place to accurately measure the current number of Americans affected by SCD, and this new bipartisan legislation would increase efforts to collect data on the disease and reauthorize the Sickle Cell Disease Treatment Demonstration Program … Continue Reading
Sen. Tim Scott introduces bill aimed at protecting children from identity theft
Tuesday | March 6, 2018by Briana Rivas
Senator Tim Scott announced his plan to introduce a bipartisan bill aimed at protecting children from identity theft via a Facebook post Tuesday morning. In the post, Scott references a recent study that found one in every ten children had their Social Security Number used by someone else to fraudulently open bank accounts or credit cards. "It is simply inconceivable," said Scott, "that a criminal would seek to exploit a child's identity and personal information for their … Continue Reading
From 'victim' to 'victor,' Sen. Tim Scott shares his life's story
Thursday | February 22, 2018by Larry Wood
U.S. Sen. Tim Scott, R-S.C., returned to his roots Thursday, speaking at Wagener-Salley High's Black History Month program. Scott's family is from nearby Salley. His mother still owns property there. "Every family reunion I went to early on brought us back to the land of the Chitlin' Strut. Had a good time," said Scott, whose family later moved to North Charleston. During his motivational speech, Scott told the student's his life story and how he became a victor instead of a … Continue Reading
Sen. Scott featured on PBS News Hour
Friday | February 16, 2018Watch the full video … Continue Reading
Sen. Tim Scott: New tax law will spur opportunity in distressed communities
Wednesday | February 14, 2018Poverty has long been one of the most challenging social crises of our time. Despite good-intentioned efforts to generate positive change, currently 52 million Americans continue to face the dire circumstances of a lack of jobs, education, and the confidence that things will get better. I will be at the White House on Wednesday with President Trump, administration officials and community leaders to discuss the Investing In Opportunity Act. The IIOA, which was included in last year's tax … Continue Reading
