[Congressional Record Volume 143, Number 95 (Tuesday, July 8, 1997)]
[House]
[Page H4845]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       BIPARTISAN SUPPORT FOR CAPITAL GAINS AND ESTATE TAX RELIEF

  (Mr. WICKER asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. WICKER. Mr. Speaker, I have in my hand a letter from Dr. Lester 
Spell, commissioner of agriculture and commerce for the State of 
Mississippi. Dr. Spell is a statewide elected official elected on the 
Democratic ticket, and he asks that Congress provide relief from the 
capital gains tax and reduce the death tax. Commissioner Spell has this 
to say about capital gains taxes: ``This tax has a negative and unfair 
effect on agricultural families and nonagricultural families.''
  About the estate tax, Commissioner Spell says: ``This tax destroys 
the hope and enthusiasm of free enterprise and entrepreneurship.''
  He goes on to say: ``This year Independence Day would be much more 
meaningful to all Americans if Congress would reduce capital gains 
taxes and move to eliminate the death tax.''
  Mr. Speaker, the House-passed tax cut is good for average Americans. 
Over 75 percent of the tax relief goes to families between $20,000 and 
$75,000 in annual income. I am glad capital gains and estate tax relief 
are part of this package, and I commend Commissioner Lester Spell for 
pointing out the bipartisan support for these provisions.

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