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White House Draws Doubt With Claim of $75 Billion for Poor Areas

Aug. 26, 2020, 7:03 PM

Hours before the Republican National Convention kicked off this week, the White House had good news: Investors had plowed $75 billion into funds that target opportunity zones, showing the Trump administration’s signature tax break to help poor communities is working.

The estimated haul means the program is on track to lift 1 million people out of poverty, according to the assessment released by the White House Council of Economic Advisers on Monday.

People who’ve studied the incentives have doubts.

“It’s a made-up number,” said Brett Theodos, a senior researcher at the Urban Institute, of the fundraising tally. “It’s an estimate. ...