The Treasury Department’s inspector general is looking into the opportunity zone program following stories by ProPublica and The New York Times about how the tax break meant to help the poor had been manipulated by billionaires.
The development, which was first reported by NBC News, comes after three congressional Democrats wrote to Treasury’s inspector general in October asking for the probe and citing the ProPublica and Times stories.
“We are conducting an inquiry, and expect to complete our work and respond to the Congressional requesters in early spring,” Deputy Inspector General Richard Delmar said in a statement. Continue reading.