Trump’s ‘Opportunity Zones’ Tax Break Under Assault in New York
- State senator wants to curb benefit for real estate developers
- Gianaris’s district includes future Queens home of Amazon
Queens, New York.
Photographer: Jeff Greenberg/Getty Images
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A New York state lawmaker has introduced a bill that would make President Donald Trump’s “opportunity zones” tax break less valuable to real estate developers.
The lawmaker, Senator Michael Gianaris, a Democrat, says he was outraged to learn Amazon.com Inc.’s planned office building in his Queens, New York, district would be located in an opportunity zone. That designation lets the e-commerce behemoth and others qualify for sizable federal and state tax breaks for building there. Amazon has indicated it won’t try to claim the break.