[Congressional Record Volume 147, Number 47 (Tuesday, April 3, 2001)]
[Extensions of Remarks]
[Pages E509-E510]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  CAPITAL GAINS TAX RATE REDUCTION ACT

                                 ______
                                 

                            HON. MAC COLLINS

                               of georgia

                    in the house of representatives

                         Tuesday, April 3, 2001

  Mr. COLLINS. Mr. Speaker, today I rise to introduce the Capital Gains 
Tax Rate Reduction Act. If enacted, this legislation will reduce the 
top capital gains tax rate from 20% to 10%. Additionally, the lower 
rate of 10% would be reduced to 5%. The measure would also repeal the 
5-year holding rule.
  This legislation is needed to spur today's ailing economy. From past 
rate reductions, we know that the economy responds to the lowering of 
rates. The impact of reducing the tax burden on investments is to 
increase activity in the markets. When the tax is reduced, individuals 
have an incentive to sell assets. These sales spur economic growth, as 
well as generate revenue for the federal coffers.
  Please join me in cosponsoring this important tax rate reduction 
bill.

[[Page E510]]



                          ____________________