REMARKS

Remarks by President Trump in a Meeting on Opportunity Zones

ECONOMY & JOBS

Issued on: May 18, 2020

Cabinet Room

1:06 P.M. EDT

THE PRESIDENT: Okay. Thank you very much. We’re here talking about Opportunity Zones and other things having to do with economic development and also the inner cities. And Tim Scott — 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?

SENATOR SCOTT: Tremendous.

THE PRESIDENT: So it’s —

SENATOR SCOTT: Thank you for your support.

THE PRESIDENT: Well, thank you for your support and for your knowledge.

And if I might, I’d 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’d like to hear from you too, okay?

Tim, please.

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’re helping people because they’re Americans, and you don’t care whether they’re Democrats or Republicans, whether they’re black or white, whether they’re up or they’re down, whether they’re rich or they’re 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.

{snip}

THE PRESIDENT: It should’ve been stopped in China. It should’ve been stopped at the source. But it happened.

But they’re coming out with tremendous — it’s incredible what they can do. And I’ve seen results, and the results are staggeringly good. So, I’m very happy.

And the market is up very big, and I think you’re going to have a “V.” I think it’s going to be terrific. I think we’re 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’re going to have a year next year — because of all the stimulus and everything else, and the pent-up demand — like you haven’t seen in a long time.

SENATOR SCOTT: Oh, my gosh, 2021 is going to be amazing.

{snip}

Ben Carson, would you like to say a few words?

SECRETARY CARSON: Well, first of all, thank you for redirecting us.

{snip}

SECRETARY CARSON: And, Mr. President, this — this is —

(Secretary Carson presents a document.)

MR. TURNER: Yeah, that’s the best practices.

SECRETARY CARSON: Best practices. It shows you what’s going on in all the Opportunity Zones. It’s absolutely astonishing.

THE PRESIDENT: Very good.

SECRETARY CARSON: It’s very entertaining reading.

THE PRESIDENT: Very good.

SECRETARY CARSON: But you’d be amazed at what’s going on.

THE PRESIDENT: That’s good reading. Look at that. That’s good reading. (Laughter.) Let me just see something. Sixty-seven pages like that. (Laughter.) I don’t know. I’m not sure, Brooke, if I’m going to get to read all of it.

MS. ROLLINS: It looks —

THE PRESIDENT: But I’m going to try.

MS. ROLLINS: It looks — yeah, very stimulating.

THE PRESIDENT: I’m going to try.

MS. ROLLINS: For sure.

THE PRESIDENT: Brooke, you have a few words?

MS. ROLLINS: You know, I’ve —

THE PRESIDENT: Congratulations, by the way.

MS. ROLLINS: Oh, Mr. President, thank you so much. I think it’s 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 — of course, pre-COVID. And we — 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.

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.

Now they’re in a tough spot again, but this is what this effort is entirely about — 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’s ever been before? I know you like to use the “transition to greatness,” and I think that’s 100 percent accurate in this case, and this is what this entire effort is about.

So thank you for convening this. Thank you for the redirection. And I know we’re all really excited.

THE PRESIDENT: We’ll bring it back.

MS. ROLLINS: Yes, we will.

THE PRESIDENT: We’ll bring it back.

MS. ROLLINS: Yes, we will.

THE PRESIDENT: Larry Kudlow, please.

MR. KUDLOW: Just to add to what the others have said, I think it’s a great project.

{snip}

So, again, you rebuilt this economy. All right? We got hit by the virus. You’ll rebuild the economy again.

{snip}

MR. KUDLOW: Thank you, sir.

THE PRESIDENT: Thank you all very much. Thank you.

END

1:20 P.M. EDT