Broadcast VOICES Act
Key claim: The Broadcast VOICES Act would establish tax incentives—including gain/loss nonrecognition on qualifying sales and a tax credit for station contributions—to promote radio station ownership and management by socially disadvantaged individuals, and require FCC reporting on minority ownership.
Abstract
(S2123 · 119th Congress) Broadcast Varied Ownership Incentives for Community Expanded Service Act or the Broadcast VOICES Act This bill establishes tax incentives for certain transactions that facilitate the ownership and management of broadcast radio stations by socially disadvantaged individuals and imposes related reporting requirements. Under the bill, a socially disadvantaged individual is a woman or an individual who has been subjected to racial or ethnic prejudice or cultural bias because of their membership in a group. (A similar tax incentive, known as the Minority Tax Certificate Program, was in effect from 1978 to 1995.) Specifically, the bill permits individuals and entities engaged in the qualifying sale of a radio station to elect nonrecognition of the gain or loss resulting from the sale. A qualifying sale is (1) a sale of an interest in a station that results in or preserves ownership of the station by socially disadvantaged individuals, or (2) a sale of some or all of an interest in a station that is owned by socially disadvantaged individuals by an individual or entity that contributed capital in exchange for the interest (e.g., an investor that contributed startup capital). Such sales must also meet other requirements, including a cap on the value of the sale. The bill also establishes a tax credit for contributions of radio stations for the training of socially disadvantaged individuals in station management and operations. Finally, the bill requires the Federal Communications Commission to report to Congress with recommendations for increasing ownership of radio stations by socially disadvantaged individuals. Latest action (2025-06-18): Read twice and referred to the Committee on Finance.
Why this matters
Ownership of broadcast media shapes which communities’ voices reach the public, and federal policy has fluctuated on whether race- or gender-conscious incentives are permissible tools for expanding that access. The Broadcast VOICES Act would revive a tax-incentive model discontinued in 1995, framed around the race-neutral ‘socially disadvantaged individual’ category used elsewhere in federal contracting — a framing designed to address ownership disparities while navigating equal-protection constraints. FCC reporting requirements would also make minority ownership data more visible for future policymaking and litigation.