ROBERT JOHNSON, FOUNDER OF BET AND THE RLJ COMPANIES, PROPOSES ENACTMENT OF $30 BILLION TAX INCENTIVE LEGISLATION TO PROVIDE PREFERENTIAL TAX TREATMENT TO INVESTORS WHO INVEST IN BUSINESSES OWNED BY BLACK AMERICANS AND OTHER MINORITIES

The tax proposal – called the BOOST Act — would allow investors to be eligible for preferential tax treatment on gains realized from their investments and thereby stimulate the flow of capital to historically undercapitalized business.