Give the wealthy a tax break to encourage affordable housing? Gavin Newsom wants to try it

Fresno Bee - 03-21


A provision of Trump’s 2017 tax bill helps the wealthy put off paying some taxes. Now California might use it to help build affordable housing. The opportunity zone program lets investors take money they’ve made from selling something like stocks, real estate, or art, and put it into a fund that invests it in projects to uplift economically distressed communities.