On the recordFebruary 6, 2008
Unless Congress acts, in 3 short years capital gains taxes will jump from 15 percent to 20 percent. Tax increases, as Democrats would allow, send the wrong messages to businesses facing economic uncertainty. But what does this mean for working Americans? Simply put, fewer jobs as employers make tough decisions about hiring and retention. Some say tax relief costs too much, but history since 2002 shows otherwise. Lower rates have unlocked billions in gains, boosting Federal revenues far beyond Congress' projections which were made based on higher tax rates. Lower taxes, higher revenues, and greater growth for our economy and for the American workers, Congress should keep the capital gains rates constant.
Source
govinfo.gov
