[Congressional Record (Bound Edition), Volume 149 (2003), Part 5]
[House]
[Page 5970]
[From the U.S. Government Publishing Office, www.gpo.gov]




   SUPPORT PRESIDENT'S PROPOSAL TO PROMOTE JOB CREATION AND ECONOMIC 
                                 GROWTH

  (Mr. COX asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. COX. Mr. Speaker, our economy needs new jobs. That is why I so 
strongly support President Bush's proposal to promote job creation and 
economic growth. One provision of that plan will lead to the creation 
of over 400,000 new jobs by the end of next year, and that is the 
proposal to eliminate the double tax on savings in stocks and mutual 
funds.
  America's savers should be rewarded, not penalized, for investing, 
because when they invest their savings, they not only promote job 
creation, create the wherewithal for the hiring of new workers, but 
they also help provide for their own retirement. Indeed, those who are 
already retired stand to benefit from the elimination of the double 
tax, because over half of dividend payments are received by senior 
citizens.
  To get our economy growing again, to provide tax fairness to the men 
and women who are saving for their future retirement and those who are 
already on fixed incomes, it is time to repeal the double tax on 
savings.

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