[Congressional Record Volume 141, Number 186 (Monday, November 20, 1995)]
[House]
[Page H13362]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         THE CAPITAL GAINS TAX CUT VERSUS THE FAMILY TAX CREDIT

  (Ms. PELOSI asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Ms. PELOSI. Mr. Speaker, one of the previous speakers on the 
Republican side asked the question, I think rhetorically, at the end of 
his remarks, ``What more could we do to stimulate the economy of our 
country than to give a capital gains tax break?'' I think the answer to 
that is educate our children, invest in our children.
  That is one of the complaints I have with the Gingrich Republican 
reconciliation bill. In it, they give a capital gains tax break to the 
wealthiest people in our country. But listen to this: It is retroactive 
until last January 1. The much-heralded $500 family tax credit? That is 
only effective October 1. So, effectively, the tax credit for American 
families, the $500 tax credit is $125 for 1995, while the capital gains 
reduction for the wealthiest people in our country goes back 
retroactively to January 1995.
  Mrs. SCHROEDER. Mr. Speaker, will the gentlewoman yield?
  Ms. PELOSI. I yield to the gentlewoman from Colorado.
  Mrs. SCHROEDER. Mr. Speaker, I think what the gentlewoman knows, it 
must be harder to raise a capital gain than it is a child.

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