The United States implements much of its social policy through the income tax laws. The Code is rife with tax expenditures for education, housing, community economic development, retirement savings, and health care to name a few. But the IRS is not an agency with expertise in any of these areas...

The Opportunity Zone (OZ) program, which is designed to provide place-based equity investments into certain low-income communities, has potential upsides and pitfalls. The program is complicated, and it implicates numerous spheres of policy expertise. But currently, it is mostly administered by...

Place-based tax incentives, such as the New Markets Tax Credit (NMTC) and Opportunity Zones incentives, are often used to promote investment in low-income neighborhoods. However, not all low-income neighborhoods have an equal need for investment subsidies. Subsidies for investment in already...