{"database": "press", "table": "releases", "rows": [["https://www.gardner.senate.gov/newsroom/press-releases/senate-tax-reform-to-include-bipartisan-investing-in-opportunity-act", "Senate Tax Reform to Include Bipartisan Investing in Opportunity Act", "2017-11-17", "2017", "2017-11", "Republican", "House", "CO", "Cory Gardner", "G000562", "www.gardner.senate.gov", null, null, "legacy", "Washington, D.C.\u00a0- In a major step toward helping distressed communities nationwide, U.S. Senators Cory Gardner (R-CO) and Tim Scott (R-SC), along with a group of their colleagues, announced that the amended Senate tax reform plan will include the bipartisan Investing in Opportunity Act (IIOA) as a part of the tax reform bill that will be voted on by the full Senate in the coming weeks. The IIOA incentivizes investment in economically distressed areas by allowing trillions of dollars in private capital to be used to encourage small businesses, support entrepreneurs, and to develop dilapidated properties in zip codes most in need of a resurgence.\r\n\u201cAs a fifth generation Coloradan who grew up on the Eastern Plains, I know how important it is to attract growth to local communities, and particularly rural communities, in Colorado,\u201d\u00a0said Gardner. \u201cThe Investing in Opportunity Act will encourage investment, incite growth, and extend opportunities to communities that are struggling. This commonsense legislation is a stepping stone to restoring faith in the American Dream for some people who feel like they have been left behind.\u201d\r\n\u201cSince I entered Congress, my goal was simple: create opportunity for everyday Americans wherever possible,\u201d\u00a0said Scott.\u00a0\u201cIt\u00a0is\u00a0a passion because I grew up in a single-parent household, surrounded in poverty, with very little expectation that I would find my way to success. But I learned that opportunity can truly be the difference that changes the course of one\u2019s life. I know that when the IIOA is passed, when it actually reaches the people it\u2019s intended to help, the results will be truly amazing because it will help everyday people in South Carolina and beyond build their way to a brighter future.\u201d\u00a0\r\n\u201cIt\u2019s time to give our middle class the boost they need following several years of job loss and economic distress,\u201d\u00a0said Sen. Capito (R-WV).\u201cThe Investing in Opportunity Act can help spur growth in these communities and level the playing field, creating new opportunity in West Virginia and other regions. I\u2019m pleased to see it included in the latest version of the Senate\u2019s tax proposal.\u201d\r\n\u201cI am thrilled that our legislation, the Investing in Opportunity Act, has been included in the Senate tax reform plan,\u201d\u00a0said Sen. Ernst (R-IA).\u00a0\u201cThis provision compliments much-needed tax relief for low and middle-income earners. By incentivizing private investment in struggling communities, it would spur economic growth in poverty-stricken areas, bringing hope and opportunity back to many distressed rural communities in Iowa.\u201d\r\n\"Too many low-income Ohioans have been left behind as our broken tax code hampered economic growth,\"\u00a0said Sen. Portman (R-OH).\u00a0\"I\u2019m pleased that the\u00a0Investing in Opportunity Act\u00a0was included in our landmark tax reform package to pave the way for long-term investments in Ohio\u2019s small businesses and entrepreneurs,\u00a0which in turn means more jobs and opportunities for the families in distressed communities across our state. Every hard-working Ohioan should be able to reach their God-given potential.\"\r\n\"Lack of opportunity is a common circumstance in distressed communities across the country,\"\u00a0said Sen. Young (R-IN).\u00a0\"This proposal is a common-sense way to unleash investment and entrepreneurship in distressed communities to create hope and new opportunity. Ultimately, this is exactly the kind of behavior we should strive to promote and incentivize.\"\r\nThere are currently 52 million Americans living in distressed communities across the country, and trillions of dollars in unrealized capital gains sitting on the sidelines. The IIOA would provide an opportunity for U.S. investors to use a temporary capital gains referral in exchange for investing the capital in these communities. This public-private partnership will create new channels for investment that will grow jobs, inspire entrepreneurship, and improve the local economy for future generations.\r\n###", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.gardner.senate.gov/newsroom/press-releases/senate-tax-reform-to-include-bipartisan-investing-in-opportunity-act"], "units": {}, "query_ms": 1.7837784253060818, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}