[Congressional Record (Bound Edition), Volume 147 (2001), Part 4]
[Extensions of Remarks]
[Pages 5387-5388]
[From the U.S. 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

[[Page 5388]]

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.

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