Article: SIA endorses concept of lower capital gains tax, O'Brien says. (Securities Industry Association, Edward O'Brien)

SIA ENDORSES CONCEPT OF LOWER CAPITAL GAINS TAX, O'BRIEN SAYS

NEW YORK, Jan. 25 /PRNewswire/ -- The Securities Industry Association strongly endorses reducing the capital gains tax, which press reports say President Reagan will recommend to Congress, Edward I. O'Brien, president, SIA, said Monday.

A lower capital gains tax rate will increase government revenue -- as it has previously -- and may help narrow the federal budget deficit, he said.

In addition, lower capital gains tax rates have a proven record of stimulating savings and investment, thus fostering capital formation and numerous related benefits from increased government revenue ...

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