The Tax Cuts and Jobs Act (TCJA), passed in late 2017, contained many headline-grabbing new tax provisions, and during the initial wave of public reaction and acclaim the Opportunity Zones Act (Ozone Act) embedded in the TCJA was largely overlooked. However, the Ozone Act has proven to be something of an iceberg, with only the tip visibly exposed: Beneath the surface, Ozones have developed into something quite large – and perhaps enormous.
According to the Economic Innovation Group (EIG), the Ozone Act could attract a staggering $6 trillion in investment funds, and could become a major force in the rehabilitation of American cities and the expansion of the American economy.
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