NHMC Urges Congress to Include the Diversity Tax Legislation in the Final Budget Reconciliation Package

September 28, 2021

NHMC Urges Congress to Include the Diversity Tax Legislation in the Final Budget Reconciliation Package

A Statement from Brenda Victoria Castillo, President & CEO of the National Hispanic Media Coalition (NHMC)

It’s no secret that the state of diversity in broadcast ownership is at dire levels–and has only gotten worse in recent years. In order to revitalize diversity in broadcast ownership for women, Latinx, and BIPOC communities, NHMC is supporting federal legislation reviving a former program designed to grant tax incentives to those who sell their broadcast license to someone from an underrepresented population, called the Minority Tax Certificate Program (MTC). The Expanding Broadcast Ownership Opportunities Act of 2021, led by Representative G.K. Butterfield in the House, and Senator Gary Peters in the Senate, would create new opportunities for women, Latinx, and BIPOC communities by encouraging investment and ownership in broadcast stations.

From 1978 to 1995, the MTC’s impact on diversity was obvious, as television and radio broadcast ownership by women, Latinx, BIPOC, and other historically marginalized people grew by 550 percent. Since the MTC’s tragic elimination, broadcast ownership by these groups have declined, leading to women holding a majority ownership interest only in 8 percent of commercial broadcast stations, while Latinx only held a 6 percent ownership interest and people of color in general only held a 4 percent ownership interest.

As a pillar of our organization’s purpose and mission, NHMC strongly supports this effort to incentivize opportunities for diverse broadcast ownership. NHMC urges Congress to join us in supporting this legislation, and increasing diversity in broadcast ownership as a part of its final budget reconciliation package.

Yours in the Movement,

Brenda Victoria Castillo

President & CEO
National Hispanic Media Coalition

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