​Third Way’s Statement on the “Investing in Opportunity Act of 2016”

WASHINGTON—Third Way’s Vice President for the Economic Program Gabe Horwitz issued the following statement on introduction of the “Investing in Opportunity Act of 2016”:

Economic change is relentless, and navigating this change is the central economic challenge for millions across the country. But this challenge is even more pronounced for Americans living in distressed communities. These regions of the country, where economic progress is sluggish to non-existent, struggle even more to create jobs and prosperity in this new economy.

If we are going to be successful in building an economy that supports all Americans, we need to ensure that federal policy helps direct a massive infusion of private capital into distressed communities. That’s why we are pleased to see leadership on this issue from Reps. Ron Kind and Pat Tiberi along with Senators Cory Booker and Tim Scott. Following extensive and impressive work from the Economic Innovation Group on understanding distressed communities, their legislation—the Investing in Opportunity Act of 2016—is an important contribution to this debate. It is critical to get more capital into the areas of the country that need it most, and this bipartisan effort is an impressive step forward.