VIDEO: Scott Discusses His New Investing in Opportunity Act
Washington – During today’s Finance Committee hearing, U.S. Senator Tim Scott (R-SC) discussed solutions for helping low-income and impoverished communities across the nation, including his new Investing in Opportunity Act which he announced last month with Senator Cory Booker (D-NJ) and Representatives Pat Tiberi (R-OH) and Ron Kind (D-WI). The measure will create a new model for unlocking private investment in economically distressed communities in every state throughout the country. It offers a temporary capital gains deferral in exchange for reinvesting those dollars into distressed communities. Currently, more than 30 percent of South Carolina’spopulation, or 1.4 million people, live in an economically distressed area, a number that rises to 50 million Americans nationwide.
(Click photo or HERE to watch Senator Scott’s remarks and questions)
Senator Scott’s Opportunity Agenda now includes theInvesting in Opportunity Act, as well as theCHOICE ActandLEAP Act, which focus on education and workforce development. To read more about his agenda, visithttps://www.scott.senate.gov/OpportunityAgenda.