Wall Street, Seeking Big Tax Breaks, Sets Sights on Distressed Main Streets
New York Times, Feb. 20, 2019–Matthew Goldstein, Jim Tankersley
The flood of capital is raising hopes as well as concerns. Supporters believe the money can help distressed towns and neighborhoods that are still feeling the effects of the financial crisis and have barely benefited from the nine-year economic expansion. Skeptics worry that the funds will mostly target real estate and other projects that probably would have attracted investment even without the tax break, and may not deliver the returns being dangled.
