Carol Moseley-Braun in Newt!, by Dick Williams


On Technology: Let Chicago Tribune defer $30M taxes for minority sale

In January, 1995, Republicans in the House moved to strike a 17-year-old preference in broadcast law that allowed station and cable system owners to defer capital gains from the sale of a property if it were sold to minorities. Murdoch's Fox Television Stations division was trying to sell its WATL-TV in Atlanta to a minority group financed by the Chicago Tribune Company. He stood to defer some $30 million in taxes through the sale. After the House killed the program, an exemption for Murdoch and the Tribune Company, was inserted in the Senate bill by Sen. Carol Moseley-Braun of Illinois. Her amendment was approved in a House-Senate conference committee. Gingrich said he was opposed to the amendment and wanted the program abolished altogether, but th House was powerless to negotiate the one exemption away. President Clinton said he would refuse to veto the bill for much the same reason--it was a sound measure overall.
Source: Newt!, by Dick Williams, p.200 Jun 1, 1995

The above quotations are from Newt! Leader of the Second American Revolution, by Dick Williams.
Click here for other excerpts from Newt! Leader of the Second American Revolution, by Dick Williams.
Click here for other excerpts by Carol Moseley-Braun.
Click here for a profile of Carol Moseley-Braun.
Please consider a donation to OnTheIssues.org!
Click for details -- or send donations to:
1770 Mass Ave. #630, Cambridge MA 02140
E-mail: submit@OnTheIssues.org
(We rely on your support!)

Page last updated: Feb 19, 2019