Subscribe to Entrepreneur for $5
Subscribe

Fast Track?

If The Bridge Act gets past "go," fast-growth businesses could benefit from a tax deferral.

By
This story appears in the February 2004 issue of Entrepreneur. Subscribe »

Sweeping tax reform continues to gain momentum on Capitol Hill, but tax-cut fever has yet to lift a modest proposal designed for the fast-growth entrepreneur. The Bridge Act, a tax deferral program specifically designed for businesses with under $10 million in sales, has had tepid support in the House since its introduction in 2001.

Supporters say the bill just needs to build momentum, but some pundits blame partisan politics. The sponsor of the Senate version is John Kerry, a Democrat whose status as a presidential hopeful may be squelching support from a Republican-dominated Congress. The bill's limited focus has also reportedly reduced its appeal to the Bush Administration. But the bill's sponsors hope that the promise of supporting the job-growth potential of emerging businesses will help overcome this ambivalence.

4th of July Subscription Sale - Unlock this subscriber exclusive article and more for 20% off today.

Access all Entrepreneur content with no ads, unlock discounts, and get exclusive advice only available to our subscribers. Plus, our magazine delivered straight to your door.

Get 20% off an annual subscription today. Just use code SAVE20 at checkout.

Entrepreneur Editors' Picks