Fast Track?
If The Bridge Act gets past "go," fast-growth businesses could benefit from a tax deferral.
By Julie Monahan • May 5, 2006 Originally published Feb 2, 2004
Opinions expressed by Entrepreneur contributors are their own.
Sweeping tax reform continues to gain momentum on Capitol Hill,but tax-cut fever has yet to lift a modest proposal designed forthe fast-growth entrepreneur. The Bridge Act, a tax deferralprogram specifically designed for businesses with under $10 millionin sales, has had tepid support in the House since its introductionin 2001.
Supporters say the bill just needs to build momentum, but somepundits blame partisan politics. The sponsor of the Senate versionis John Kerry, a Democrat whose status as a presidential hopefulmay be squelching support from a Republican-dominated Congress. Thebill's limited focus has also reportedly reduced its appeal tothe Bush Administration. But the bill's sponsors hope that thepromise of supporting the job-growth potential of emergingbusinesses will help overcome this ambivalence.
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