Subject: An Effective Date For Capital Gains Tax Cut

Sen. Bill Roth (R-Del.) and Rep. Bill Archer (R-Tex.), chairmen of the Senate Finance Committee and House Ways and Means Committee, suggested today be the effective date for any capital gains tax cut.

The two lawmakers issued the following statement:

"We intend to propose that the effective date for any capital gains tax cut included in the budget reconciliation bill will be with respect to sales and exchanges occuring on or after today, May 7, 1997. Interested parties should be advised that no specific provisions have been agreed upon and will only be finalized at the end of the legislative process."