It is a great honor and with pleasure that I introduce this resolution for myself, Mr. Ashcroft, the Senator from California, and others who may wish to join us. Yesterday, I was on this floor describing a very difficult predicament that Major League baseball was encountering. It seemed, as of early yesterday morning, that the Internal Revenue Service might say that a fan who caught a historic home run ball hit by Mark McGwire and turned it back to him might be liable for $150,000 or more in gift taxes on that ball. We pointed out that that made no sense. I am proud to say that we had bipartisan support for that proposition, Madam President. There are very few things that have brought this Chamber together more than that one simple proposition. I was very pleased yesterday afternoon to have a call from Commissioner Rossotti of the IRS, who understood the magnitude of the problem this could cause. He advised me that he has issued a release from the IRS saying that, while resolving gift tax issues is as difficult as figuring out the infield fly rule, it made sense that we congratulate a fan who returns the baseball rather than hit him with taxes.
On the recordSeptember 9, 1998
Source
govinfo.govEditor's note · Context
Introducing a resolution regarding gift taxes on historic baseballs during Senate floor debate.
Share
More from Julian Bond
Mar 28, 2012
I can only go by what I read in the papers or see on TV, that what seemed to happen is this police wannabe followed him, against the orders of the police, got out of his car, confronted him in some way. We don't know what happened then…
Jun 19, 2008
Let me explain briefly that we added one sentence to a two-sentence amendment saying, in essence, that it will not affect the GSEs, existing affordable housing programs. Those are programs already in effect. There was some question about…
May 9, 2012
Well, I think it is. I mean any time a group of people are denied rights and struggle for their rights, that's a civil rights movement.





