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Pres. Trump Signs Executive Order to Revitalize Low-Income Communties – MyArkLaMiss

Pres. Trump Signs Executive Order to Revitalize Low-Income Communties

(KARK) – WASHINGTON – (12/13/18) The White House unveiled new details Wednesday night about its effort to help America’s low-income communities receive an economic boost.

President Trump said his administration is launching the largest effort yet to revitalize these areas.

 

“The resources of the full federal government will be leveraged to rebuild low-income and impoverished neighborhoods that have been ignored in years past,” Trump said.

The newly-established Opportunity and Revitalization Council is designed to stimulate private investments in 8,700 eligible communities nationwide, according to the president.

Mayor Kenneth Alexander of Norfolk, VA said cities like his need all the help they can get.

“Private dollars will not traditionally trickle down into distressed communities,” Alexander said. “This is vitally important for a city like Norfolk.”

The White House said the money will not only go to cities, but also suburban and rural communities that need economic help.

HUD Secretary Ben Carson will lead the council. He said companies are now eligible to receive tax breaks with strings attached if they invest in areas often overlooked for jobs.

“It’s actually using our capitalist society in an advantageous way to enhance our communities,” Carson said.

According to the Trump administration, at least 35 million people live in so-called “economic opportunity zones.”

The White House council plans to roll out more details about its programs in January.

To view the economic opportunity zones, click here.

This report provided by Mark Meredith with KARK’s D.C. Bureau.

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Originally Published on December 13, 2018 at 06:39PM

Article published originally via “opportunity zones” – Google News https://www.myarklamiss.com/news/local-news/pres-trump-signs-executive-order-to-revitalize-low-income-communties/1658414301