Political Quotes

Paul Coverdell: “Seventy-five percent of stockholders today have household incomes less than $75,000. The Coverdell-Torricelli amendment…”

On the recordJuly 30, 1999
Seventy-five percent of stockholders today have household incomes less than $75,000. The Coverdell-Torricelli amendment targets middle-class investors by exempting their first $1,000 capital gains from taxation, beginning in fiscal year 2006. This is a bipartisan amendment, which is also cosponsored by, as I said, Senators Torricelli, Domenici, Bayh, and Abraham. It will wipe out the gains tax for millions of middle-class taxpayers and promote tax simplification.
Said by
Paul Coverdell
Georgia
Source
govinfo.gov

Editor's note · Context

Discussing the Coverdell-Torricelli amendment to exempt capital gains for middle-class investors.

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