Washington, July 24 -- Rep. Mike Carey issued the following press release:
This week, U.S. Rep. Mike Carey (R-Ohio-15) introduced the S Corporation Modernization Act, legislation to modernize outdated tax rules affecting S corporations, helping businesses access capital, expand employee ownership, and compete in today's economy.
"S corporations are the backbone of our economy, supporting tens of millions of jobs and driving economic growth in communities across the country," said Rep. Carey. "Unfortunately, many of the rules governing S corporations haven't kept pace with today's economy and create unnecessary hurdles for S corporations, both large and small. The S Corporation Modernization Act updates these outdated policies, reduces com...