Columbus-area GOP Rep. Pat Tiberi wants to use tax reform legislation to steer investment towards urban and rural areas bypassed by past economic recovery.
On Thursday, Tiberi and a bipartisan group of Congress members introduced legislation that would defer capital gains tax payments on investments channeled into “opportunity zones” in census tracts with high levels of poverty, unemployment and vacant housing.
Data released last year by the Economic Innovation Group ranked Cleveland as the nation’s top city with residents living in economically distressed zip codes, Tiberi said. He said Appalachian sections of Ohio need similar help.
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By: Sabrina Eaton, Cleveland.com
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