Max Cleland: “I rise this morning, to join my good colleague from Arkansas in support of the Small Business Capital Gains Enhancement…”

“I rise this morning, to join my good colleague from Arkansas in support of the Small Business Capital Gains Enhancement Act of 1997. Today, our country's economy is more robust and is growing faster than it has in the last decade and maybe even the last several decades. Fostering this growth is crucial to sustain the great and important strides that our economy has made in these past years and I believe that this legislation will go a long way to improving incentives for investment in small businesses. Cutting the capital gains tax in this targeted fashion is something that small businesses have time and again asked for because they know, as we all do, that investing in small businesses and providing capital for that investment creates growth and, more importantly, jobs. Small businesses have had a striking impact on Georgia's economy. They are vital as job creators, and their diversity and composition provide a work force with endless opportunities and are easily the envy of the country. Mr. President, according to the SBA, 97.6 percent of the business firms in Georgia are small businesses. Women-owned businesses have increased 62.7 percent since 1987. African American owned firms have increased 79.8 percent between 1987 and 1992. Hispanic firms, including part-time businesses, grew 184.9 percent in the same period of time. So the impact of this legislation is huge.”