[Congressional Record Volume 143, Number 41 (Wednesday, April 9, 1997)]
[House]
[Page H1347]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   URGING COSPONSORSHIP OF H.R. 14, THE CAPITAL GAINS TAX CUT MEASURE

  (Mr. DREIER asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. DREIER. Mr. Speaker, I am very happy to inform the House that we 
now have over 114 cosponsors on the most important family tax cut 
measure that we could possibly consider. What is that family tax cut 
measure? It is the bill, H.R. 14, to take the top rate on capital gains 
from 28 percent to 14 percent.
  I call it the most important family tax cut measure, Mr. Speaker, 
because this will in fact, based on two studies that have been 
conducted, increase the take-home wages of the average American family 
by $1,500.
  The argument we have heard in years past is that a capital gains tax 
rate reduction is nothing but a tax cut for the rich. Nothing could be 
further from the truth. We need to bring this about. It not only will 
increase take-home wages, it will help us in our effort to decrease the 
deficit and deal with our national debt problem.
  Mr. Speaker, I urge my colleagues if they have not already joined in 
the cosponsorship of my measure, which includes my colleague, the 
gentlewoman from Missouri, Karen McCarthy, the gentleman from Virginia, 
Mr. Moran, the gentleman from Florida, and several other people who are 
involved in this in a bipartisan way, I urge Members to cosponsor it.

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