Political Quotes

“A couple of other provisions. Talking about your district and the way this bill tomorrow will affect your district, in this bill, H.R. 4297 tomorrow, there will be a technical correction in there that affects this Nation's songwriters, which of course, so many of them live in my district, and I do believe that they are definitely some of the most creative people and such an important part of our creative community. But for years, when a songwriter wants to sell their catalog, which is their life's work, it is like selling that small business that Eddie has and that so many of our constituents have, then they have been taxed at ordinary income tax and had to pay self- employment. This is their retirement. This is their nest egg they have pulled together. And a correction that we will make tomorrow will affect so many of those songwriters that are in Memphis and Nashville and down in Austin and in those areas because it will allow those catalogs to be sold and those individuals to pay a capital gains tax like other small business owners, there again, leaving more money and more of that nest egg for them as they retire and as they are seniors, and allowing them to look at how they do things better, how they grow those small businesses. I yield to the gentleman from Texas.”