Election Analysis At The Novogradac 2024 OZ Summit, With Mike Novogradac
·9 min
The episode opens with host Jimmy Atkinson welcoming Mike Novogradac at the Novogradac 2024 Opportunity Zone Summit in Washington D.C. Atkinson notes the palpable excitement in the room following the election outcome. Novogradac explains that the Opportunity Zone community had been closely watching whether there would be a Republican sweep, Democratic sweep, or divided government, with Trump's election seen as a strong signal for the incentive's future. He describes the summit's purpose as coalescing constituents to enhance and improve Opportunity Zone goals, especially given the critical point in its evolution with gains recognition due in 2026. Novogradac highlights the need for extension and renewal, allowing additional investments and potential redesignation of zones based on new census data. Atkinson asks about a panel titled 'Washington Wire' featuring Capitol Hill staffers. Novogradac summarizes it as akin to a CNN election analysis, discussing implications for Opportunity Zones based on the results. He outlines two scenarios: if Republicans sweep, budget reconciliation could lead to extension or renewal; if Democrats control the House, shorter-term treatments might occur, though Trump's presidency still promises positive impact. The conversation turns to timing, with Novogradac noting efforts for early 2025 are optimistic, and a major tax bill—dubbed the 'Super Bowl of Tax'—is more likely in the second half of 2025. He encourages attendance at next year's summit, which may coincide with legislative action. Atkinson closes by asking where listeners can learn more, and Novogradac directs them to websites like OpportunityZonesResourceCenter.com and Novaco.com, and mentions partner Jason Watkins for joining the Opportunity Zones Working Group. Atkinson provides show notes and encourages subscriptions on podcast platforms.
