http://www.cleveland.com/news/plaindealer/index.ssf?/base/news/112945542110061.xml&coll=2Sunday, October 16, 2005
Washington - ...
More than a year later, however, Bush's campaign promise has gone nowhere. Politicians, scholars and interest groups that generally follow such proposals barely recall it, and administration spokesmen seem at a loss to account for it...
Meanwhile, a new concept of opportunity zones has emerged. After Hurricane Katrina, Bush proposed creating a Gulf Opportunity Zone that would qualify for about $2 billion in tax breaks. That idea has gotten plenty of attention on Capitol Hill lately...
Some say they suspect Bush was trying to attract votes in industrial states like Ohio and Pennsylvania that were key battlegrounds in the 2004 election. With the election over, they say, Bush's tax agenda is more likely to focus on getting Congress to extend income tax cuts enacted during his first term than to adopt new tax cuts targeted to struggling communities...
Katz, who worked on empowerment zones for the Clinton administration, said such programs don't seem to help small businesses much because applying for federal tax incentives requires a larger, more sophisticated staff than many businesses have. The programs also seem more likely to shift jobs from one part of town to another than to encourage companies to make new investments, he said...