NATION/Wednesday: A Hearing About Facebook w- Update

Duncan is a newly appointed Member of the House Energy and Commerce Committee
Update: Rep. Jeff Duncan Questioned Facebook CEO Mark Zuckerberg Washington, D.C. – Today, Congressman Jeff Duncan (SC-03) questioned Facebook, Inc. CEO, Mark Zuckerberg in the House Energy and Commerce Committee hearing entitled “Facebook: Transparency and Use of Consumer Data.” “I asked my constituents on Facebook last week what they wanted me to question Mark Zuckerberg on during the hearing, and the answer was overwhelmingly about Christian and conservative content being blocked or suppressed on Facebook’s platform. I, too, have been following these reports and find them extremely troubling. I emphasized to Mr. Zuckerberg how I believe implementing the First Amendment into company policies would be a good start in allowing a more open platform where ideas of all viewpoints can be expressed without suppression. “Facebook is an extremely valuable tool for me to interact with constituents each and every day, and I will continue to use the platform to facilitate conversations with folks around my district. I want to thank Mr. Zuckerberg for his patience in answering the committee’s questions and for also accepting the pocket Constitution that I gave him after the hearing.”

Congressman Jeff Duncan (R-SC-03-Laurens County), a newly appointed Member of the House Energy and Commerce Committee, will be participating in the hearing entitled “Facebook: Transparency and Use of Consumer Data.”

 

Details:

What:       Facebook: Transparency and Use of Consumer Data

Date:               April 11, 2018

Time:               10:00 a.m. EST

Location:         2123 Rayburn House Office Building

 

Witness:

Mr. Mark Zuckerberg, Chairman and CEO, Facebook, Inc.

·         Mark Zuckerberg is the CEO of Facebook, which he founded in 2004. Mark is responsible for setting the overall direction and product strategy for the company. He leads the design of Facebook's service and development of its core technology and infrastructure. Mark attended Harvard University and studied computer science before moving the company to Palo Alto, California.

·         Written Testimony

 

WATCH LIVE

 

RELATED:

 

Duncan Applauds Designation of Opportunity Zones

 

Washington, D.C. – Congressman Duncan (R-SC-03-Laurens County) applauds the U.S. Department of the Treasury’s designation of “Opportunity Zones” in the Third Congressional District as a result of the Tax Cuts and Jobs Act:

“As exciting as it was to see the Tax Cuts and Jobs Act signed into law, it is even more exciting to see the positive outcomes the historic legislation has had so far in improving people’s lives. We have unleashed the American dream for millions of people by fighting for and implementing a pro-growth, pro-family tax plan that is all about higher wages, more jobs, and less government.

“Included in the tax reform package was the Investing in Opportunity Act to provide certain tax incentives to spur economic investment in distressed communities around the country. I want to thank my friend, Senator Tim Scott, for his tireless work in this arena ensuring that every community in our state and nation has access to thriving economic opportunities. His vision for Opportunity Zones and tax reform as a whole will positively impact millions of people that need it the most, including many of my constituents.

“Innovative ideas like Opportunity Zones are truly how we move this nation forward for all citizens and Make America Great Again.”

 

Background:

Senator Tim Scott’s Investing in Opportunity Act (IIOA) was included in the Tax Cuts and Jobs Act which was signed into law on December 22, 2018. The IIOA aims to give distressed communities more opportunities for economic investment by creating tax incentives, and every county represented in the Third District has been designated an opportunity zone. You can read Senator Scott’s recent piece here.

U.S. Department of the Treasury: Qualified Opportunity Zones retain this designation for 10 years. Investors can defer tax on any prior gains until no later than December 31, 2026, so long as the gain is reinvested in a Qualified Opportunity Fund, an investment vehicle organized to make investments in Qualified Opportunity Zones.  In addition, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor would be eligible for an increase in its basis equal to the fair market value of the investment on the date that it is sold.

“I am very excited about the prospects for Opportunity Zones. Attracting needed private investment into these low-income communities will lead to their economic revitalization, and ensure economic growth is experienced throughout the nation,” said Secretary Steven T. Mnuchin. “The Administration will continue working with States and the private sector to encourage investment and development in Opportunity Zones and other economically disadvantaged areas and boost economic growth and job creation.” (April 10, 2018)

You can view all Opportunity Zones here.

 

 

EARLIER: By Clinton SC Economic Development The governor is going to recommend an area west of Clinton to be a federal Opportunity Zone. The area is known as "Census Tract 9207 with Hwy 76 in Clinton headed toward Laurens in its center and a large area extending south. This is City of Clinton SC Economic Development's announcement on Facebook: "The City of Clinton was notified last week that Census Tract 9207 was selected by the Governor to be submitted to the Department of Treasury for approval as an Opportunity Zone. This is a federal program designed to encourage long-term private investments in low-income communities. The Governor could submit up to 25% of the low income census tracts across the state for the program. The Department of Treasury should confirm his recommendation in the next 30-45 days."

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