ICYMI: U.S. Senator Tim Scott Named on Bloomberg 50

WASHINGTON – U.S. Senator Tim Scott was listed among Bloomberg’s top 50 for his Investing in Opportunity Act signed into law as part of last year’s tax reform. Scott, referred to as “Mr. Opportunity Zone”, is accompanied by, among others, Taylor Swift, Reese Witherspoon, the K-pop boy band BTS, and fellow South Carolinian Mick Mulvaney, Director of the U.S. Office of Management and Budget.

The Bloomberg 50

What does Black Panther director Ryan Coogler have in common with Ben van Beurden, chief executive officer of Royal Dutch Shell?

Tim Scott

Senator, South Carolina

Thanks to him, about 8,700 low-income census tracts are now designated as “opportunity zones,” and they’ve become the next big investing fad as Wall Street discovers the potential tax savings.

He’d managed to codify an idea that Silicon Valley luminary Sean Parker and a coterie of lawmakers and policy wonks have been floating in Washington for years.

When Scott toured some of the zones this year, his first stop was his childhood home of North Charleston, where his single mom raised him, working 16-hour days as a nurse’s assistant. Now “communities that have not seen the type of economic recovery that the rest of the country has seen have a chance to be hopeful,” he said in an interview on Bloomberg Television in July.

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