Federal Opportunity Zones

Floor Speech

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Mr. MARSHALL. Mr. Speaker, this Congress and this President made pro- growth policies a top priority since day one. My colleagues and I should be very proud that due in part to the policies of this Republican Congress, consumer confidence is at an all-time high, businesses are optimistic, and our economy is booming. Even The New York Times has run out of words to explain and describe how great this economy is.

As families across Kansas receive an average tax break of more than $2,000 a year, as well as seeing record wage growth and bonuses, I see the excitement growing firsthand throughout my district.

However, today in particular, I want to highlight one specific aspect of the Tax Cuts and Jobs Act: Federal Opportunity Zones, which are designed to promote economic development and job creation in communities throughout the country. This is where government meets private sector business in a very positive way.

The Treasury Department recently selected 22 opportunity zones in 17 different counties across the First District of Kansas.

When a tract is deemed an opportunity zone, it allows taxpayers to defer capital gains tax if they invest and prioritize local projects. This is a win-win scenario for both investors and communities that will spur growth and expansion.

My good friend, Ashley Hutchinson, in Cloud County, Kansas, said her community hopes to use these opportunity zones to recruit new businesses to areas in counties like hers that are in great need of investment incentives.

In Manhattan, Kansas, home of the Kansas State University Wildcats, the local Chamber is using these opportunity zone programs to revitalize and enhance Aggieville, a beloved and historic social district very near and dear to my heart.

In southwest Kansas, municipalities are using the program to spur job growth by updating existing buildings for new retail and commercial space, as well as attracting housing developments for the region's growing workforce.

In Emporia, Kansas, expansion of the growing pet industry is being allowed by these opportunity zones as well.

Across my district, community leaders and economic development departments are excited by the new opportunities these zones will deliver to their communities.

As the Tax Cuts and Jobs Act continues to help existing businesses grow and expand, opportunities are starting to rise across the country. In Kansas, we are excited about what is to come.

As a Congressman, I am often asked: What are you doing in Congress? What is this Congress doing to help save rural America? These Federal Opportunity Zones as well as the Tax Cuts and Jobs Act are one such example.

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