Last year alone, 1 million of our citizens were lifted out of poverty—a new record.

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The US Census Bureau dropped its annual load of statistics on American poverty and income last year, and the data shows that 2017 was a good year for many Americans, and not-so-great for others.

Remarks by President Trump at Signing of an Executive Order Establishing the White House Opportunity and Revitalization Council

THE PRESIDENT: Thank you. In a few moments, I will sign an executive order launching a new White House Opportunity — this is a very big thing that Tim and I and everybody have been working on for a long time — and Revitalization Council. This council will coordinate efforts across the entire federal government to deliver jobs, investment, and growth to the communities that need it the most.

With the creation of today’s council, the resources of the whole federal government will be leveraged to rebuild low-income and impoverished neighborhoods that have been ignored by Washington in years past. Our goal is to ensure that America’s great new prosperity is broadly shared by all of our citizens. Our country is doing better than ever, economically, and we’re able to do that.

I am thrilled to announce that our new council will be led by Secretary Ben Carson, who is here with us today. Let’s see, where is our Ben? (Applause.)

Also with us is Secretary Steven Mnuchin and Secretary Wilbur Ross, who will both serve on the Council and play a critical role in its work.

The Council will focus its efforts on Opportunity Zones, a crucial part of tax cuts that we passed last year. Under our new tax cuts, any distressed area that is designated as an Opportunity Zone will receive massive incentives for private sector investment, including zero capital gains tax on any investment held for at least 10 years.

We’re honored to be joined today by the person who led the fight to include Opportunity Zones in the Tax Cuts and Jobs Act, and that is Senator Tim Scott. Thank you. Thank you, Tim. (Applause.)

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