WASHINGTON (KXXV) — Congresswoman Jasmine Crockett (D-TX) and Congressman Chuck Edwards (R-NC) have introduced the Economic Opportunity for Distressed Communities Act, a bipartisan measure to fix contaminated properties by designating Superfund and Brownfield sites as Opportunity Zones.
The bill seeks to encourage cleanup, redevelopment, and economic investment in hazardous waste sites by providing tax incentives to investors.
It builds upon the 2017 Opportunity Zone Tax Incentive, which promotes economic growth in low-income communities but does not currently extend to environmentally burdened areas.
The United States has over 1,300 Superfund sites on the Environmental Protection Agency's National Priorities List and an estimated 450,000 Brownfield sites. Due to contamination concerns, these sites often remain undeveloped despite their potential for housing, business expansion, and community projects.
"Communities like mine have suffered from industrial pollution for too long," Crockett said. "This bill will encourage private sector investment to help clean up and transform these areas into spaces that benefit the people who live there."
Edwards said, "Many of these sites have remained abandoned for years. This legislation will spur redevelopment, create jobs, and improve property values nationwide."
If passed, the legislation would provide tax deferrals to investors who commit capital to rehabilitate appointed sites, creating long-term development and restoring the environment in distressed communities.
