From the Pages of Orlando Weekly: Rick Scott granted tax breaks meant to help the poor to rich donor’s instead
• When Rick Scott was governor of Florida, he was given a blank check by the Trump Administration to create so-called “opportunity zones” anywhere he chose, where developers wouldn’t have to pay millions in federal taxes. The money was supposed go to “needy areas” for development and jobs. Who did Rick Scott give it to? Billionaire developers, sports team owners, donors to his political campaigns. The opportunity zones were pitched as the prime anti-poverty measure of Trump’s signature Tax Cuts and Jobs Act of 2017. But the law has no public reporting requirements. In the new zones, investors don’t have to pay capital gains taxes up front and any appreciation they accrue is tax-free after a decade. That one is the …
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