Reducing the tax burden on capital gains makes sense.  Historically, capital gains tax cuts have increased revenue to the government, raised individual "take home" income, and encouraged private sector investment in the economy. 

 President Bush?s Jobs and Growth Tax Relief Reconciliation Act of 2003 that Congress passed last May with my support lowered capital gains taxes.  For folks in the 10% and 15% tax brackets, the maximum tax rate on long-term capital gains income (gains on assets held longer than one year) fell to 5%.  In 2008, it will be eliminated completely.  For individuals that exceed the 15% bracket, the maximum tax rate on long term gains was reduced from 20% to 15%. 

 We need to make changes in the tax code permanent as soon as possible.  I will continue fighting to make sure that more of the money you earn stays with you and is not sent to Washington, D.C.