U.S. Reps. Mike Kelly (R-PA), Blake Moore (R-UT), and Mike Carey (R-OH), who serve on the U.S. House Ways and Means Committee’s Community Development Tax Team, recently conducted a site visit at a $1 billion community revitalization project in Washington, D.C.
The Community Development Tax Team is one of 10 new Committee Tax Teams launched in April by the House Ways and Means Committee. Composed of Ways and Means Republicans, the committees will address tax provisions from the 2017 tax cuts that are set to expire in 2025 and identify legislative solutions to continue helping Americans and small businesses.
The July 8 site visit by Reps. Kelly, Moore, and Carey was the first by a tax team since they formed, and the lawmakers, along with fellow Community Development Tax Team member U.S. Rep. Claudia Tenney (R-NY), visited the Bridge District in Washington, D.C., a project made possible through Opportunity Zone (OZ) legislation included in the 2017 Tax Cuts & Jobs Act.
“My district has seen the firsthand benefits of Opportunity Zone legislation with the incredible transformation taking place in downtown Erie in recent years. Our visit to The Bridge District highlights the need to extend and expand Opportunity Zone legislation so more communities can benefit from this bipartisan legislation,” said Rep. Kelly, chairman of the Community Development Tax Team.
The Bridge District OZ project, located near Joint Base Anacostia-Bolling in Southeast D.C., will provide housing and retail opportunities in the low-income neighborhood, as well as house the National Campus for Cyber Leadership, a 250,000-square-feet building offering government, private-sector, and academic users a collaboration-focused collection of classroom space, cyber ranges, research and development labs, and secure facilities.
“I was pleased to join my colleagues on the Ways and Means Community Development Tax Team at the Bridge District Opportunity Zone in Washington, D.C.,” Rep. Moore said. “We saw firsthand how Opportunity Zones are lifting up families and small businesses by encouraging long-term, private capital investments in low-income communities.”
Rep. Moore added that the Bridge District project is a great model for Opportunity Zones across the country, and he anticipates “further digging in on ways we can promote similar partnerships to enhance more communities in need.”
“Opportunity Zones, like this one in Congress’s backyard, give historically struggling communities a chance to grow and thrive,” said Rep. Carey. “It was great to join our fellow tax team members… and we look forward to ensuring Opportunity Zones and other priorities from the 2017 tax cuts are preserved and strengthened next year.”
Led by developer Redbrick LMD Inc., the project has leveraged capital made possible through the 2017 Tax Cuts & Jobs Act, portions of which are set to expire in 2025 pending congressional reauthorization. The Ways and Means Committee Tax Teams are holding site visits throughout this year to learn how tax policies are impacting Americans ahead of that deadline.
“Our committee is committed to listening to the American people ahead of the 2025 tax talks,” said Rep. Kelly. “Renewing and expanding OZ legislation is critical to developing communities across the country. These tax teams will ensure that our tax code works for Americans, not the other way around.”