Trump’s “opportunity zone” tax credit was supposed to help struggling communities. Here are some of the people it benefited instead:

It’s benefited billionaire financiers…

New York Times: “But the Trump administration’s signature plan to lift them — a multibillion-dollar tax break that is supposed to help low-income areas — has fueled a wave of developments financed by and built for the wealthiest Americans. Among the early beneficiaries of the tax incentive are billionaire financiers like Leon Cooperman and business magnates like Sidney Kohl — and Mr. Trump’s family members and advisers.”

It’s benefited Trump associates…

New York Times: “The Trump Associates Benefiting From a Tax Break for Poor Communities”

New York Times: “While some money is flowing to poor communities, the most visible impact so far has been to set off a feeding frenzy among the wealthiest Americans. They are poised to reap billions in untaxed profits on high-end apartment buildings and hotels in trendy neighborhoods, storage facilities that employ only a handful of workers or student housing in bustling college towns.”

It’s benefited Jared Kushner and his family…

Associated Press: “Kushner holds a big stake in a real estate investment firm, Cadre, that recently announced it is launching a series of Opportunity Zone funds that seek to build major projects under the program from Miami to Los Angeles. Separately, the couple has interests in at least 13 properties held by Kushner’s family firm that could qualify for the tax breaks because they are in Opportunity Zones in New Jersey, New York and Maryland — all of which, a study found, were already coming back.”

It’s benefited a Republican donor’s superyacht marina…

ProPublica: “The Rybovich superyacht marina lies on the West Palm Beach, Florida, waterfront, a short drive north from Mar-a-Lago. Superyachts, floating mansions that can stretch more than 300 feet and cost over $100 million, are serviced at the marina, and their owners enjoy Rybovich’s luxury resort amenities…Rybovich owner Wayne Huizenga Jr., son of the Waste Management and Blockbuster video billionaire Wayne Huizenga Sr., has long planned to build luxury apartment towers on the site, part of a development dubbed Marina Village. Those planned towers, and the superyacht marina itself, are now in an area designated as an opportunity zone under President Donald Trump’s 2017 tax code overhaul, qualifying them for a tax break program that is supposed to help the poor.”

It’s benefited wealthy developers who game the system and waste millions of taxpayer dollars…

KCRG: “Opportunity zones are designed to give tax dollars to spur development in low-income areas.  KCRG-TV9’s national I9 investigative TV team found developers are already gaming the system and wasting millions of dollars. The program also has targeted some well-developed areas, including some in Cedar Rapids, Coralville, and other areas of eastern Iowa.”

It benefited Trump’s “great friend” and billionaire NBA owner Dan Gilbert…

ProPublica: “How A Tax Break To Help The Poor Went To NBA Owner Dan Gilbert.”

ProPublica: “Quicken gave $750,000 to Trump’s inaugural fund. Gilbert has built a relationship with Ivanka Trump, who appeared at one of his Detroit buildings in 2017 for a panel discussion with him. And, last year, he watched the midterm election returns at the White House with President Donald Trump himself, who has called Gilbert ‘a great friend.’”

It benefited Mnuchin’s Wall Street friend and the inspiration for Gordon Gekko…

New York Times: “Mr. Milken, it turns out, is in a position to personally gain from some of the changes that his institute has urged the Trump administration to enact. In one case, the Treasury secretary, Steven Mnuchin, directly intervened in a way that benefited Mr. Milken, his longtime friend.”

It benefited a Mississippi Republican donor, while residents have yet to receive anything…

Center for Public Integrity: “Under President Donald Trump’s plan to pump money into poor neighborhoods across the country, the government gave generous tax breaks to a Mississippi businessman to purchase a Vicksburg, Mississippi, saw mill on the verge of shutting down. The businessman closed the former Anderson-Tully plant to make millions of dollars worth of updates to the facility; when it reopened, he filled 125 of the mill’s 158 previous positions. The owner, William Van Devender, had taken advantage of a provision in Trump’s Tax Cuts and Jobs Act of 2017 called ‘opportunity zones,’ which offer incentives for businesses and developers to make long-term investments in economically distressed communities.”

Center for Public Integrity: “Leaders promise the incentives will bring employment and affordable housing to the designated communities, so the benefits will reach not just wealthy investors but workers such as Tiffany Rankin, a public school bus driver who lives in the Vicksburg opportunity zone. Rankin was looking for a better job when the plant, now called Vicksburg Forest Products, changed ownership. She said she applied for several openings but couldn’t secure one. ‘What’s the purpose of you building businesses and building houses if no one can afford to live in them?’ Rankin said. ‘Or you can’t afford to go and patronize with this business because you don’t have any money left?’ The condition of Rankin’s neighborhood — a poor, flood prone community called Kings — is how the area qualified for tax breaks.”

The only people Trump’s “opportunity zone” tax credit hasn’t benefited are those who need it the most.