Professor Michelle Layser was quoted in an October 26 story in the New York Times, titled "Symbol of ’80s Greed Stands to Profit From Trump Tax Break for Poor Areas." The article uncovers how 80s financier Michael Milken, the inspiration for Wall Street's Gordon Gekko, is positioned to profit enormously from the opportunity zone tax break, a signature element of the Trump tax cuts.
Layser comments near the end of the article, in reference to recent changes to opportunity zone rules that allow investors who have long owned land inside opportunity zones to be eligible for the tax break by leasing properties to themselves.
“Anybody who owned property in the zone prior to 2018 would have been out of luck until these rules,” said Layser. “This really opens the door.”
Read the full article at nytimes.com.