Momentum clearly building to phase-out burdensome capital gains tax
WASHINGTON – Earlier today, the Zero Capital Gains Tax Caucus announced two new congressional members have joined the bi-partisan, bicameral caucus, increasing the total membership to 50 members.
Sponsored by representatives Dreier (R-Calif.) and Hall (D-Texas) in the House, and senators Shelby (R-Ala.) and Miller (D-Ga.), the Zero Capital Gains Tax Caucus seeks to educate policymakers and voters about the harsh impact of capital gains taxes on American families and economic growth.
The two new members, Representatives Jim DeMint (R-SC) and Roscoe Bartlett (R-MD), are both members of the House of Representatives. As new members, they will join the Caucus to further discuss the benefits of lower capital gains taxes to American workers, the American economy, and the federal budget.
"Capital gains taxes rob families of the savings they need to buy homes, send their children to college, and plan for their retirements," said Grover Norquist, President of Americans for Tax Reform in Washington. "I salute the new members of the Caucus for their bold leadership on this critical issue, and I encourage all members of the House and Senate to join their efforts."
The Americans for Tax Reform (ATR) announced its efforts to help build membership and grassroots support for the caucus last summer. In just the past 10 weeks, the Caucus has more than doubled in size from 21 to 50 members and thirty-three organizations have signed up to support the efforts of the Zero Capital Gains Tax Caucus. The significant backing for the caucus demonstrates growing bi-partisan and grassroots support to gradually reduce and then eliminate this onerous tax.