[Congressional Record Volume 157, Number 134 (Monday, September 12, 2011)]
[Extensions of Remarks]
[Pages E1598-E1599]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         INVEST IN AMERICA ACT

                                 ______
                                 

                        HON. STEPHEN LEE FINCHER

                              of tennessee

                    in the house of representatives

                       Monday, September 12, 2011

  Mr. FINCHER. Mr. Speaker, I rise today to discuss an issue of great 
importance to individuals as they save for retirement and to assist 
companies to have the capacity to create jobs. The tax burdens placed 
on families and businesses hinders job creation, job retention, and 
innovative breakthroughs in technology.
  The capital gains tax placed on families and family businesses 
creates less employment, produces less investment. Thus, making America 
less competitive in the global economy, and is just another example of 
how our tax code unfairly punishes innovation and wealth creation.
  That is why I am pleased to introduce the Invest in America Act, 
which reduces the capital gains tax rate to zero for ten years for 
families, investors, and collectors. Simply put, my bill will create 
stability in the economy by allowing families and businesses to plan 
for the future. Lower taxes create a stable economic environment will 
encourage innovations, breakthroughs, and job creation by providing 
much needed capital to businesses and entrepreneurs. Lowering the cost 
of future consumption encourages more Americans to invest and create 
wealth.
  Many countries, such as Germany, have no capital gains tax at all. At 
a time when the burdensome tax code and regulations are driving 
American businesses to be less competitive globally reducing the 
capital gains rate here at home would spark American investment and 
increase our competiveness globally. Bottom line, we need a streamlined 
tax code that is fairer, flatter, and simpler that encourages 
investment and wealth creation in order to get this country moving and 
working again.
  Mr. Speaker, I urge my colleagues in the House (and Senate) to 
support me in passing the Invest In America Act and bring stability to 
the American economy.

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