WASHINGTON — President Donald Trump signed an executive order Wednesday that will engage 13 federal agencies to aid the Opportunity Zones program targeting development in distressed American communities. The program is part of the 2017 tax reform law, offering tax benefits for developers and investors to build in long-neglected areas.
The order establishes the White House Opportunity and Revitalization Council, which will work to identify federal resources and regulations allowing agencies to coordinate with state and local officials and the zones’ stakeholders.
Trump hailed the order as a way for all U.S. communities to “share in prosperity.”
Trump’s daughter and close adviser Ivanka Trump attended the event, but neither commented on an Associated Press investigation that examined her promotion of the program despite investments held by her husband, Jared Kushner, that could benefit from the plan’s tax breaks.