[Congressional Record (Bound Edition), Volume 147 (2001), Part 1]
[House]
[Page 971]
[From the U.S. Government Publishing Office, www.gpo.gov]



           RURAL POVERTY, AN UNNOTICED PROBLEM IN OUR NATION

  (Mr. OSBORNE asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. OSBORNE. Madam Speaker, rural poverty is a huge, largely 
unnoticed problem in our Nation. Currently, the three lowest-income 
counties in the United States are in my district. The poorest county 
averages less than $4,000 annual income per person.
  Paradoxically, in these counties, the unemployment rate is extremely 
low, the character level is excellent, and the work ethic is 
exceptional. The problem is that these rural counties are totally 
dependent upon production agriculture. For this reason today, along 
with several colleagues, I am introducing a bill that will provide a 
one-time, $500,000 capital gains tax exemption for farmers and ranchers 
who sell their land. This exemption would equal the capital gains 
exemption already granted to homeowners. Many producers feel they 
cannot retire because of their tax situation. This bill will help. I 
encourage support.

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