On the recordFebruary 11, 1997
on my first day as a Member of Congress, I kept a pledge to the people of my district to introduce legislation that would improve the quality of their lives. My legislation reduces the capital gains tax by 50 percent and seeks to eventually eliminate it. All over central New Jersey, I have been told that overtaxation is a huge problem. I have had people tell me that they are not going to sell their homes or businesses until Congress acts. People and businesses create jobs, not the government. Lower capital gains taxes leave more capital in the hands of businesses, entrepreneurs and individuals who create and expand businesses and jobs. A New Jersey painting contractor was quoted in an article in the Washington Post as saying: You're looking at a poor man who thinks the capital gains tax is the best thing that could happen to this country, because that's when the work will come back. People say capital gains are for the rich, but I've never been hired by a poor man. The growth of our Nation's economy can be vibrant and grow if we are only willing to allow it to happen. Pass capital gains tax reform.
Source
govinfo.gov




