Agampreet Singh

Ms. Chawkat

IR GT

January 12, 2023

6th Annotated Bibliography

Weaver, Timothy. (2023, Apr. 13). Boston Review.

https://www.bostonreview.net/articles/the-false-promise-of-opportunity-zones/#:~:text=The
%20reality%20is%20that%20most,t%20factor%20into%20their%20decisions.

This article looks at the effectiveness of Opportunity Zones (OZs), a key provision of
the Tax Cuts and Jobs Act of 2017, designed to stimulate investment in low-income and
distressed communities through capital gains tax reductions. Donald Trump touted these
zones as transformative for black communities, claiming they brought significant
investment and revitalization. However, evidence suggests otherwise. OZs were initially
proposed to address the lack of private investment in these areas, with the belief that tax
incentives would attract capital and stimulate economic growth. However, the reality is
starkly different. Most investments have gone into real estate, benefiting wealthier
investors more than the intended communities. The zones have largely failed to lift
low-income areas out of poverty and instead have contributed to gentrification and luxury
development. This is something that is crucial to my research and impacts it largely.
Opportunity zones first were implemented in the UK, attempting to help investors. focused
on tax breaks to bring life back to urban areas. Over the years, these policies have had
backing from both political parties, but they have never quite reached their goals. Instead
of helping the poor, they have often made things more unequal. The article highlights that
the success of such zones is overestimated, with investments primarily serving the wealthy
and doing little to benefit the poor directly. The OZ program, far from being a panacea for
urban poverty, is criticized for its inefficiency and misguided priorities. Alternatives to this
approach are suggested, emphasizing the empowerment of communities and local
governments rather than relying on private investors. The article argues for a shift in
urban policy and economic development strategies.

The author, Timothy Weaver is qualified to discuss the efficacy and impact of
Opportunity Zones and broader political development policies because of their credentials
as Associate Professor of Political Science at the University at Albany, SUNY. He is also the
author of "Blazing the Neoliberal Trail: Urban Political Development in the United States
and the United Kingdom.” His contact information is included in the article. Written 9
months ago, this source is current on the topic of opportunity Zones and their impact on
communities. The article's recency ensures that it provides a relevant perspective on the
effectiveness and consequences of these zones, particularly under the Trump
administration. The author, Timothy Weaver, thoroughly evaluated all sides of the issue.
For example, they acknowledge the potential benefits of Opportunity Zones as argued by
their proponents. These benefits are described as incentives for private investment in
distressed communities to create jobs and lift residents out of poverty. However, Weaver
counters this viewpoint by presenting evidence and historical context to argue that such
zones often fail to benefit the intended low-income communities and instead favor wealthier
investors. This inclusion shows that the article’s author acknowledges alternative
viewpoints but provides substantial evidence and historical analysis to argue against them.
The information contained in the source can be verified elsewhere. For example, the author
says, “...to qualify as an OZ, a census tract must be either a low-income community—with
a poverty rate of at least 20 percent, or a median family income of no greater than 80
percent of the state’s median income—or contiguous to one.” This can be corroborated by
David Coyne and Craig Johnson in their publication “Use of the Opportunity Zone Tax
Incentive: What the Data Tell Us” under the US Department of Treasury. They concluded
Their perspective and data are available in various publications and reports they have
released. The purpose of this article is to analyze the effectiveness of Opportunity Zones
and to argue that they often fail to deliver their promised benefits to low-income
communities. The audience is individuals who are interested in urban development,
economic policy, and social justice, including academics, policymakers, and social activists.
individuals interested in urban development, economic policy, and social justice, including
academics, policymakers, and social activists. The article is appropriate for this purpose
and audience because it talks about a lot of government-related topics and policies in great
detail. He uses good examples to critique opportunity zones. For example, Weaver uses
historical examples from the UK and the US to illustrate the long-term ineffectiveness of
similar economic strategies.

● "This is a promise that we will always be true to our country and our special red,
white, and blue flag represents us and all 50 states in our country. We are all on a
team together and the flag is our symbol...our nation's family crest" (Flags of
Valor).
● We are all human beings, no matter who we are, what we believe, or where we came
from, there is someone higher than everything watching over us at all times (Flags of
Valor).
● "Indivisible, with liberty and justice for all" -> We are stronger together and no
one can ever break us up. We believe everyone should be treated fairly and equally.
We are one country forever.