Federal Communications Commission chairman Michael Powell embraced a bill
introduced Tuesday by Sen. John McCain (R-Ariz.) that would use tax incentives
to spread ownership of telecommunications businesses to small companies.
'I applaud and welcome Sen. McCain's ongoing and consistent efforts to
encourage and facilitate new entry, including women and minorities, into the
telecommunications industry,' Powell said in a prepared statement.
McCain would allow companies to take tax deferrals and postpone capital-gains
tax on the sale of telecommunications facilities to small business owners that
qualify under the legislation.
'These tax barriers can be even more formidable for women and minorities, for
whom it has historically been more difficult to obtain necessary capital,'
McCain said. 'We look forward to working with interested organizations over the
next several months to further refine this legislation.'