Rockefeller Foundation Aims to Make Trump Tax Perk Work for Poor
- Charity promotes ‘responsible’ investment in opportunity zones
- Newark Mayor Baraka says it’ll help guide where investments go
Buildings stand past catenary wire and train tracks in Newark, New Jersey.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Wall Street’s obsession with a new tax break that rewards investment in low-income areas has raised doubts that the poor will benefit. Can a modest philanthropic effort change that?
The Rockefeller Foundation is set to announce Tuesday that it will hand out $5.5 million to help six U.S. cities promote “responsible” investment in areas designated as opportunity zones.