{"id":100892,"date":"2020-05-18T22:28:13","date_gmt":"2020-05-19T05:28:13","guid":{"rendered":"http:\/\/69.46.6.243\/?p=100892"},"modified":"2020-05-18T22:28:13","modified_gmt":"2020-05-19T05:28:13","slug":"president-trump-in-meeting-on-opportunity-zones","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=100892","title":{"rendered":"President Trump in Meeting on Opportunity Zones"},"content":{"rendered":"<p>Washington, DC&#8230;Okay.  Thank you very much.  We\u2019re here talking about Opportunity Zones and other things having to do with economic development and also the inner cities.  And Tim Scott \u2014 Senator Tim Scott of South Carolina has been with us on Opportunity Zones from day one.  He first approached me and he mentioned it, and I loved the idea.  And who knew it was going to be so successful, Tim.  Right?<\/p>\n<p><iframe loading=\"lazy\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/49JTgJL0JmM\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>SENATOR SCOTT:  Tremendous.<\/p>\n<p>THE PRESIDENT:  So it\u2019s \u2014<\/p>\n<p>SENATOR SCOTT:  Thank you for your support.<\/p>\n<p>THE PRESIDENT:  Well, thank you for your support and for your knowledge.<\/p>\n<p>And if I might, I\u2019d like to have Tim start off by saying a few words, and then Scott Turner, executive director, has done an incredible job.  And, Scott, we\u2019d like to hear from you too, okay?<\/p>\n<p>Tim, please.<\/p>\n<p>SENATOR SCOTT:  Well, thank you, sir.  Mr. President, thank you for your commitment to all Americans.  And truth be told, your commitment has gone beyond the voting booth.  You\u2019re helping people because they\u2019re Americans, and you don\u2019t care whether they\u2019re Democrats or Republicans, whether they\u2019re black or white, whether they\u2019re up or they\u2019re down, whether they\u2019re rich or they\u2019re poor.  Your focus is making sure that America is healthier as we come out of this COVID-19.  And I thank you personally for your support of all people, but specifically to the underserved community.<\/p>\n<p>And what we have before us today, sir, is a way for us to improve the economic outcomes, to improve the health outcomes, and in the long view of what we think is in the best interest of connecting people to the opportunities that will change their lives.  And from an economic development perspective, I always think about capital and competency.  The more access to capital you have, the more competent you will be long term.<\/p>\n<p>And the way that we have put structure together, it really provides people with more access to capital.  The PPP has been a classic example of improving and expanding access to capital in such a way that businesses continue to succeed.  Health outcomes \u2014 there are a myriad of ways of talking about it.  I like to think about it from a testing and telemedicine \u2014 testing in the most vulnerable communities.<\/p>\n<p>I think the emphasis has been on the nursing homes \u2014 we\u2019ve learned a lot about that \u2014 and then those communities that have two or more health conditions \u2014 underlying health conditions.  We see the highest hospitalization with our senior population as well as those folks with two or more comorbidities.<\/p>\n<p>And so as we focus on testing and telemedicine, we\u2019re creating access in the rural parts of our country in a way that we have not before.  And you have led with real force on that topic, and I truly appreciate that.<\/p>\n<p>And on the last one \u2014 the long-term structural change \u2014 I look at it from a connectivity perspective and choice perspective.  So the connectivity \u2014 broadband \u2014 being incredibly important.  I\u2019ve heard you talk about that a thousand times, if I\u2019ve heard you talk about it once.  And then from a choice perspective, whether it\u2019s charter schools or school choice, we have an opportunity to continue to change lives, and you\u2019ve led on all those fronts.  And I think we\u2019re going to see tremendous impact.<\/p>\n<p>And certainly, my baby, of course, is opportunity zones.<\/p>\n<p>THE PRESIDENT:  Right.<\/p>\n<p>SENATOR SCOTT:  You have been front and center.  And I\u2019m sure Scott is going to talk a lot about Opportunity Zones.  But you have assembled the kind of firepower that our nation needs at a critical time.  It\u2019s one of the reasons why we\u2019re going to have a V-shape as we hit August, September, October, November, in this economic recovery.<\/p>\n<p>THE PRESIDENT:  Well, I think so.  And you\u2019re seeing it maybe today for the first time, where not only are the markets up tremendously, but we\u2019ve had tremendous \u2014 tremendously good and positive information on therapeutics, on cures, and on vaccines \u2014<\/p>\n<p>SENATOR SCOTT:  Yes, sir.<\/p>\n<p>THE PRESIDENT:  \u2014 from some of the most respected companies in the world, and researchers and doctors and labs.  And that\u2019s coming in, and I think you\u2019re very close to having a very, very positive situation.  And, you know, with it understood \u2014 and we always talk about it, Tim \u2014 when you lost one person to this, it\u2019s too many \u2014 just too many.  And we\u2019re talking about thousands and millions of people throughout the world, on something that should have never happened.<\/p>\n<p>SENATOR SCOTT:  Absolutely.<\/p>\n<p>THE PRESIDENT:  It should\u2019ve been stopped in China.  It should\u2019ve been stopped at the source.  But it happened.<\/p>\n<p>But they\u2019re coming out with tremendous \u2014 it\u2019s incredible what they can do.  And I\u2019ve seen results, and the results are staggeringly good.  So, I\u2019m very happy.<\/p>\n<p>And the market is up very big, and I think you\u2019re going to have a \u201cV.\u201d  I think it\u2019s going to be terrific.  I think we\u2019re going to have a transition in the third quarter, Ben, and the transition is going to lead to a very good fourth quarter.  And I think we\u2019re going to have a year next year \u2014 because of all the stimulus and everything else, and the pent-up demand \u2014 like you haven\u2019t seen in a long time.<\/p>\n<p>SENATOR SCOTT:  Oh, my gosh, 2021 is going to be amazing.<\/p>\n<p>THE PRESIDENT:  And the stock market is not very short of where it was with all that we went through.  It\u2019s \u2014 and that means a lot of smart people are looking and they\u2019re saying, \u201cWe\u2019re coming back.  And we\u2019re coming back to that level.\u201d  I think we\u2019re going to come back to greater than that level.<\/p>\n<p>And we\u2019ve learned a lot.  One of the things we\u2019ve learned is being reliant on ourselves.  Don\u2019t be reliant on other countries that, frankly, maybe have different agendas.  And frankly, there are plenty of them out there, so it\u2019s one of those things.<\/p>\n<p>So this is a very big day.  This feels much different than Friday.  Friday is a different feeling than today.  This is a very positive day.<\/p>\n<p>Ben Carson, would you like to say a few words?<\/p>\n<p>SECRETARY CARSON:  Well, first of all, thank you for redirecting us.  You know, it was three weeks ago when you said the White House Opportunity and Revitalization Council should refocus \u2014 not get rid of, but add to its plate focusing on those individuals who are disadvantaged and who have suffered the most.<\/p>\n<p>And I think this epidemic that we\u2019re going through right now focused the light on the fact that there were some people who had significant disparities that put them at increased risk for the disease.<\/p>\n<p>So you asked us to really get to the bottom of that.  And it\u2019s not just the fact that people have hypertension and diabetes and obesity and asthma.  It\u2019s the things that create an atmosphere where those things flourish.<\/p>\n<p>THE PRESIDENT:  Right.<\/p>\n<p>SECRETARY CARSON:  And so we\u2019ve been really concentrating on getting at the underlying causes.  And I think, first of all, you know, between myself and Ja\u2019Ron, Jared, and a few others, we\u2019ve talked to hundreds of thousands of stakeholders across the country in various communities to find out from them what their perspective was, particularly in terms of the CARES Act and how it was impacting them and what could be done differently.<\/p>\n<p>And we have discovered some things which we are in the process of correcting.  Some of it will require legislative help, and, you know, Senator Scott is all over that.  So I think that\u2019s going to get done.  And the staff in all the agencies \u2014 you have 17 different agencies and councils who have been very much involved.  Secretary DeVos have been very involved, particularly with the education, the broadband.<\/p>\n<p>THE PRESIDENT:  Good.<\/p>\n<p>SECRETARY CARSON:  The fact that this whole pandemic has changed a lot of things.  But we are looking for positive ways to take advantage of that.  For instance, with education, now it\u2019s going to be possible to take the best biology teacher and put them in front of a million students instead of 30 students.  So a lot of those people who were not getting a good education, if we do this the right way, we can provide an excellent education for them.<\/p>\n<p>THE PRESIDENT:  That\u2019s right.<\/p>\n<p>SECRETARY CARSON:  Same thing for workforces.  So we\u2019re looking at ways that we can take advantage of all these things.  And this has been done very rapidly.  Three weeks ago, you asked us to do this.  And I just want to thank all the people who\u2019ve been involved, all of the primaries and the various agencies.  Everybody has been incredibly responsive.  And this is going to get done.<\/p>\n<p>THE PRESIDENT:  Good.  Thank you, Ben.  Good job too.  Thank you very much.<\/p>\n<p>Scott Turner, would you say a little bit about Opportunity Zones and how that\u2019s all going?<\/p>\n<p>MR. TURNER:  Yes, thank you.  And, Mr. President, I want to thank you for the opportunity to \u2014 really to not just be a part of the team, but to lead and to shepherd the White House Opportunity and Revitalization Council.<\/p>\n<p>We were with you last in December when we had to do the one-year report, and now we are at a point to where we have a very strong foundation because of Opportunity Zones.  And, as you know, we\u2019ve traveled to over 60 cities across the country to convene stakeholders from the community \u2014 from businesses, education, faith leaders, elected officials \u2014 to convene at a table just like this to talk about, \u201cHey, what is the pain of the community?  And what is the promise and the potential of the community?\u201d<\/p>\n<p>And those convenings have proven to bear a lot of fruit and given us, really, what we need from a partnership standpoint, from a coalition standpoint, and from a foundation standpoint now that we can go by your leadership and refocus, in the council, to go and implement these policies that we see here before us in our country.  As you know, distressed communities generationally have been behind.  And now, with the COVID and the recovery, you know, they have been severely hit.  But we\u2019re not discouraged from it, Mr. President.  We are not discouraged, we\u2019re not wavering, because we know that we have a strong team, we have great policies and \u2014 with your leadership and administration.<\/p>\n<p>And Dr. Carson \u2014 Secretary Carson alluded to the agencies that are on the council.  And everyone is passionate and compassionate about not just helping, but seeing our citizens across America in distressed communities thrive, from an entrepreneurship standpoint, from an economic standpoint, and really the spirit of this law.<\/p>\n<p>And, Senator Scott, thank you for your leadership.  Economic development and community social impact \u2014 and that\u2019s what\u2019s been going on across our country.<\/p>\n<p>Yes, COVID is here, but our mission and the spirit is still the same, and now we\u2019re just going to ramp it up.<\/p>\n<p>THE PRESIDENT:  Great.<\/p>\n<p>MR. TURNER:  You know, and keep going.<\/p>\n<p>THE PRESIDENT:  Thank you, Scott.<\/p>\n<p>MR. TURNER:  You\u2019re welcome.<\/p>\n<p>SECRETARY CARSON:  And, Mr. President, this \u2014 this is \u2014<\/p>\n<p>(Secretary Carson presents a document.)<\/p>\n<p>MR. TURNER:  Yeah, that\u2019s the best practices.<\/p>\n<p>SECRETARY CARSON:  Best practices.  It shows you what\u2019s going on in all the Opportunity Zones.  It\u2019s absolutely astonishing.<\/p>\n<p>THE PRESIDENT:  Very good.<\/p>\n<p>SECRETARY CARSON:  It\u2019s very entertaining reading.<\/p>\n<p>THE PRESIDENT:  Very good.<\/p>\n<p>SECRETARY CARSON:  But you\u2019d be amazed at what\u2019s going on.<\/p>\n<p>THE PRESIDENT:  That\u2019s good reading.  Look at that.  That\u2019s good reading.  (Laughter.)  Let me just see something.  Sixty-seven pages like  that.  (Laughter.)  I don\u2019t know.  I\u2019m not sure, Brooke, if I\u2019m going to get to read all of it.<\/p>\n<p>MS. ROLLINS:  It looks \u2014<\/p>\n<p>THE PRESIDENT:  But I\u2019m going to try.<\/p>\n<p>MS. ROLLINS:  It looks \u2014 yeah, very stimulating.<\/p>\n<p>THE PRESIDENT:  I\u2019m going to try.<\/p>\n<p>MS. ROLLINS:  For sure.<\/p>\n<p>THE PRESIDENT: Brooke, you have a few words?<\/p>\n<p>MS. ROLLINS:  You know, I\u2019ve \u2014<\/p>\n<p>THE PRESIDENT:  Congratulations, by the way.<\/p>\n<p>MS. ROLLINS:  Oh, Mr. President, thank you so much.  I think it\u2019s really important to note that, just two and a half months ago, at the end of February, we were celebrating, I think, African American History Month.  And we had over 800 African American leaders from around this country \u2014 of course, pre-COVID.  And we \u2014 you stood up in front of that group of men and women and you talked about that.  In just a few years, we had the lowest poverty rate in the history of our country for our African American population, our Hispanic population, our veteran population, our high school graduate population, our people with disabilities.<\/p>\n<p>It was a remarkable time.  And to be able to, sort of, celebrate that without knowing where we would be 10 weeks from that day, but now we know where we are.  And looking back at what you were able to do with this country and lifting the forgotten Americans who are forgotten no more.<\/p>\n<p>Now they\u2019re in a tough spot again, but this is what this effort is entirely about \u2014 led by Dr. Carson, Senator Scott, and Scott Turner: How do we bring that prosperity not just back, but to even greater heights than it\u2019s ever been before?  I know you like to use the \u201ctransition to greatness,\u201d and I think that\u2019s 100 percent accurate in this case, and this is what this entire effort is about.<\/p>\n<p>So thank you for convening this.  Thank you for the redirection.  And I know we\u2019re all really excited.<\/p>\n<p>THE PRESIDENT:  We\u2019ll bring it back.<\/p>\n<p>MS. ROLLINS:  Yes, we will.<\/p>\n<p>THE PRESIDENT:  We\u2019ll bring it back.<\/p>\n<p>MS. ROLLINS:  Yes, we will.<\/p>\n<p>THE PRESIDENT:  Larry Kudlow, please.<\/p>\n<p>MR. KUDLOW:  Just to add to what the others have said, I think it\u2019s a great project.  I backed it wholeheartedly since the beginning.  And Brooky mentions the low poverty rate we had before the virus struck and the low unemployment rate \u2014 and the low unemployment rate.<\/p>\n<p>And one of the things I love about this initiative is we can spread prosperity and opportunity to every corner of the economy \u2014 every single corner of the economy: those who are underserved, those with poverty pockets.  We can attract capital.  We\u2019re going to use private investment capital as the linchpin of this, and it will be rewarded in a number of different ways.<\/p>\n<p>So, again, you rebuilt this economy.  All right?  We got hit by the virus.  You\u2019ll rebuild the economy again.<\/p>\n<p>And you know what, sir?  Besides the stock market, there are little glimmers.  I don\u2019t want to downplay the heartbreak because the numbers are not good for this quarter \u2014 bad, bad pandemic contraction \u2014 but there are little glimmers.  A lot of the unemployed are temporary.  We\u2019re seeing evidence that gasoline demand is higher, that the Apple mobility charts are higher.  That means more people are driving.  We\u2019ve seen the New York State Manufacturing Survey rise substantially.  So there are little glimmers of hopes here and there.<\/p>\n<p>THE PRESIDENT:  A lot of things \u2014 a lot of things happening.  Oil is \u2014<\/p>\n<p>MR. KUDLOW:  Yes, sir.<\/p>\n<p>THE PRESIDENT:  \u2014 back up to a point where the energy industry is going to be \u2014 it may be in very good shape very soon.<\/p>\n<p>MR. KUDLOW:  Yeah.<\/p>\n<p>THE PRESIDENT:  So a lot of very important things are happening, and then the stock market sees it.<\/p>\n<p>MR. KUDLOW:  Yeah.<\/p>\n<p>THE PRESIDENT:  And that\u2019s why the stock market is up so big.  So it\u2019s very good.<\/p>\n<p>MR. KUDLOW:  Thank you, sir.<\/p>\n<p>THE PRESIDENT:  Thank you all very much.  Thank you.<\/p>\n<p>END           <\/p>\n<p>1:20 P.M. EDT<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington, DC&#8230;Okay. Thank you very much. We\u2019re here talking about Opportunity Zones and other things having to do with economic development and also the inner cities. And Tim Scott \u2014 Senator Tim Scott of South Carolina has been with us on Opportunity Zones from day one. He first approached me and he mentioned it, and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":100893,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,20,5,1],"tags":[],"class_list":["post-100892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2020\/05\/Fullscreen-capture-5182020-102608-PM.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/100892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=100892"}],"version-history":[{"count":0,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/100892\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/100893"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=100892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=100892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=100892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}