[Congressional Record Volume 148, Number 123 (Wednesday, September 25, 2002)]
[House]
[Page H6563]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


[[Page H6563]]
                 GETTING THE AMERICAN ECONOMY ON TRACK

  (Mr. PETRI asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. PETRI. Mr. Speaker, today I am introducing legislation to help 
get our economy going again, to get people investing again and to 
strengthen America's retirement.
  My bill will help to boost stock market performance by providing a 
real incentive for investors to keep their hard-earned money in the 
market. This bill will achieve that goal by ending the double taxation 
of dividends.
  Currently dividend income is taxed twice, first as corporate income 
and again as personal income. This tax policy diminishes the value to 
shareholders of dividend-paying stocks.
  By treating dividend payments differently from interest, we are 
providing a disincentive for corporations to return earnings to 
shareholders. Not surprisingly, dividend payments have declined in 
recent years.
  Encouraging the regular payment of dividends by ending their double 
taxation will attract new investors and help to stop the slide of the 
stock market.

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