Senate Majority Leader Trent Loft (R-Miss.) last week gave a boost to Senate Commerce Committee Chairman John McCain's (R-Ariz.) bid to help minorities get into the telecommunications industry.(Brief Article)

Broadcasting & Cable, May, 1999

Senate Majority Leader Trent Loft (R-Miss.) last week gave a boost to Senate Commerce Committee Chairman John McCain's (R-Ariz.) bid to help minorities get into the telecommunications industry. Sen. McCain, working with FCC Commissioner Michael Powell, is drafting legislation modeled on the now-defunct minority tax-certificate program that allowed broadcasters to defer capital gains if they sold stations to minority buyers.

In addition to broadcasters, McCain's plan also would include tax breaks for Internet and other companies, and would offer incentives for minority training programs. Lott praised Powell for suggesting the plan to Sen. McCain and pledged to work with the Commerce Committee chairman to craft legislation that would help minorities enter the...

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