Shenango Valley News

WASHINGTON, D.C. -- On Monday, July 8, U.S. Rep. Mike Kelly (R-PA), Chairman of the Ways and Means Subcommittee on Tax and Chair of the Community Development Tax Team, initiated the committee's Tax Teams site visits with a stop at The Bridge District in Washington, D.C., an approximately $1 billion community revitalization project facilitated by Opportunity Zone legislation included in the 2017 Tax Cuts & Jobs Act (TCJA).

In April, Rep. Kelly and Ways and Means Chairman Jason Smith (R-MO) announced the formation of ten Committee Tax Teams comprised of Ways and Means Republican members to address key tax provisions from the 2017 Trump tax cuts that are set to expire in 2025. These teams aim to identify legislative solutions to assist families, workers, and small businesses struggling in the current economy. Monday's visit by the Community Development Tax Team was their first site visit since forming in April.

Members included Reps. Mike Kelly (R-PA), Community Development Tax Team Chair; Claudia Tenney (R-NY), Community Development Tax Team Vice Chair; Blake Moore (R-UT); and Mike Carey (R-OH).

"My district has seen 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," Rep. Kelly said. "Our committee is committed to listening to the American people ahead of the 2025 tax talks. Renewing and expanding OZ legislation is critical to developing communities across the country."

“Ways and Means Tax Team site visits are vital to learning how best to protect workers, families, farmers, and small businesses from the single largest tax hike in history at the end of next year,” said Chairman Smith. “We are reaching out across the country to listen to Americans who simply cannot afford the tax increases Washington Democrats have planned for them.”

“The Bridge District is a prime example of how Opportunity Zones are helping solve America’s housing crisis while bringing jobs, amenities, and tax revenue to communities that have been overlooked for generations,” said John Lettieri, President and CEO of Economic Innovation Group.

"We are honored that members of the Ways and Means Subcommittee on Tax wished to tour The Bridge District located in Washington DC," said Trisha Miller, Executive Managing Director at Redbrick LMD Inc.

“The Opportunity Zones incentive steers critical investment towards underserved communities," said Rep. Tenney.

“I was pleased to join my colleagues on this visit,” said Congressman Moore.

“Opportunity Zones give historically struggling communities a chance to grow," said Rep. Carey.

The Bridge District project aims to provide expanded housing and retail opportunities near Joint Base Anacostia-Bolling in Southeast Washington, D.C., including hosting the National Campus for Cyber Leadership (NCCL). Led by Redbrick LMD, it leverages capital through bipartisan Opportunity Zone legislation passed under TCJA.

Rep. Kelly chairs both the Community Development Tax Team and serves on the Global Competitiveness Tax Team.

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