E. Clay Shaw, Jr.: “Have you had an opportunity to read the Shaw-Weber bill that was filed about 4 years ago? I would, if you have not…”

The bill helps preserve family-owned businesses by counting all family members as one shareholder for purposes of S corporation eligibility.

Well, I think there has to be a safety net, and there must be--and I think that is what we are supporting on our side. One of the problems, and the problem that we really have not--not approached here as a Congress is the question of male…

Ms. Norton, am I correct in saying that what you are talking about is the biggest tax increase in the history of this country?

This bill would remove this obsolete prohibition and also provide that S corporations can attract needed financing through convertible debt.