House Ways & Means Committee ranking Democrat Rangel (D-N.Y.) wil...

House Ways & Means Committee ranking Democrat Rangel (D-N.Y.) will soon introduce bill to provide tax credits for minority ownership of telecom and broadcast companies, but not until he has “bipartisan agreements” in place, spokesman told us. Spokesman said Rangel has “some disagreements” with Senate Commerce Committee Chmn. McCain (R-Ariz.), who plans similar bill on Senate side, particularly about “scope” of program and “who would qualify.” However, he said “we're fairly optimistic” in what’s “good political environment,” adding that bill could be “good test of bipartisanship.” McCain spokeswoman said he’s “working on a bill” but “we don’t have details yet.” She added that McCain “is pleased that the House is also working on this issue.” Tax certificate program for minority ownership was repealed in 1995, but with recent Commerce Dept. report finding just 4% of TV stations owned by minorities there’s pressure for new program. Rangel spokesman said it’s important that program be done right this time, and that there be no repeat of earlier problems of large companies using minorities as front men to get discounts. “We want to make sure we close those loopholes,” he said. Former Ways & Means Committee Chmn. Archer (R-Tex.) was public opponent of tax certificates. Views of new Chmn. Thomas (R-Cal.) are unknown, although he voted for repeal in 1995.