Michelle Wu: “about 3 weeks ago I convened a group of economists, venture capitalists and investment bankers at home; and we had a…”

“about 3 weeks ago I convened a group of economists, venture capitalists and investment bankers at home; and we had a private discussion about economic stimulus. After about an hour and a half of discussion, the conclusion was that there will be an incredible temptation on the part of Congress and of this government to take some relatively unhelpful steps which may do us damage in the long term. There is a lot of economic stimulus in the pipe already. But if you are going to take some steps, if you are going to take some steps, encourage short-term consumption, encourage long-term investment. Yesterday, I brought up a series of amendments in the Committee on Rules, one to return $500 to every household in America, $800 to heads of household, a second one to encourage investment in education and human capital, and a third one to bring the capital gains rate to zero for true risk taking and true long-term investment. The bill we have before us is the bill that the economists were afraid of, the temptation to do something, and do something wrong. Please vote against the rule and against this bill.”