Kay Bailey Hutchison: “I am pleased to introduce a package of three bills I hope will be the starting point for a long overdue discussion on…”

“I am pleased to introduce a package of three bills I hope will be the starting point for a long overdue discussion on reducing taxes on investment income, particularly dividends. The first bill would completely eliminate taxes on dividends. The second bill would reduce the tax on dividends to the capital gains rate. The third bill would lower the tax to the capital gains rate on dividends and interest income. These bills would not only stimulate the economy, but also correct long-term problems with the tax code. The economy is currently on the way to recovery but faces significant bottlenecks along the way. Following a mild recession, we are experiencing moderate growth. Many believe we will continue on a slow yet steady pace, but we are not yet in the clear. We must take aggressive steps to create jobs and ensure the economy gets moving again. The most effective tool government has for promoting growth is the tax code. By lowering taxes we allow people to keep more of their money and spend it more effectively than the government ever could. Lowering the taxes on investment income would stimulate the economy on several levels.”