New Revivalists is a series from ImpactAlpha and Village Capital profiling the people, places and policies reviving entrepreneurship — and the American Dream. New Revivalists: John Lettieri and Steve Glickman, co-founders, Economic Innovation Group Place: Washington, D.C. Mission: The duo created the model for “opportunity zones” into which investors can re-invest capital gains and defer or reduce taxes.
The intention to generate social or environmental benefit is key to impact investing. But a tax break can be an additional incentive. Among the many provisions of the Republican tax bill signed by President Trump last month is the new “Investing for Opportunities Act,” which lets investors temporarily defer taxes by investing their capital gains
More than three-quarters of all venture capital investment went to California, New York and Massachusetts last year. A new bipartisan bill, the “Investing in Opportunity Act,” aims to spread the wealth by tapping the $2 trillion in unrealized capital gains in stocks and mutual funds. The bill would set up “Opportunity Funds” in underserved “Opportunity Zones.” Investors