WASHINGTON – The country’s most economically distressed areas would become more attractive for private investment under legislation introduced Wednesday by a bipartisan group in Congress and backed by the first president of Facebook.
The Investing in Opportunity Act would let investors put off paying capital gains taxes and instead use that money to improve conditions in places with chronically high poverty and unemployment, low family incomes and rampant abandoned housing.
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By: Mary Troyan, USA Today
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