The White House is looking at extending a tax break for investments in certain low-income neighborhoods as it tries to find ways to address the devastating impact of the coronavirus on communities of color in America. A provision in the 2017 tax cut law allows investors to defer and lower their capital gains taxes through 2026 if they invest their profits into designated "opportunity zones" –- areas struggling with high unemployment and low wages. White House adviser Ja'Ron Smith told NPR that the administration is looking "at ways that we can extend the legislation." Ja'Ron Smith, a top White House aide to President Trump, says the administration is looking for ways to extend its Opportunity Zone program in the wake of the coronavirus pandemic....
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White House Looks At 'Opportunity Zone' Extension In Wake Of COVID-19