[Congressional Record (Bound Edition), Volume 149 (2003), Part 5]
[House]
[Page 6057]
[From the U.S. Government Publishing Office, www.gpo.gov]




         ELIMINATING UNFAIR DOUBLE TAXATION ON DIVIDEND INCOME

  (Mr. WILSON of South Carolina asked and was given permission to 
address the House for 1 minute and to revise and extend his remarks.)
  Mr. WILSON of South Carolina. Mr. Speaker, over 250 economists have 
urged Congress to repeal the unjust double taxation on dividend income. 
This is an excellent opportunity to dramatically boost our economy and 
create jobs for Americans.
  There is an urgent need to pass President Bush's plan. On March 11, 
the widely respected Charles Schwab wrote in The Washington Post, and I 
quote, ``If we are going to stimulate the economy, we need a tax policy 
that bolsters confidence, improves corporate governance, unlocks the 
stagnant capital inside companies, and lifts the stock market across 
the board. Only the elimination of the double tax on dividends achieves 
all these goals. Congress ought to act quickly.''
  That is why I have introduced H.R. 225, the Double Taxation 
Elimination Act of 2003, and I ask my colleagues to join me in ending 
this unfair double tax on dividends which has been championed by the 
House Policy Committee chaired by the gentleman from California (Mr. 
Cox) and which has been promoted by the Committee on Ways and Means 
chairman, the gentleman from California (Mr. Thomas). With this plan we 
can stimulate the economy and create jobs.
  In conclusion, Mr. Speaker, God bless our troops.

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