Grassley favors cut in capital gains tax

Iowa Senator Charles Grassley says republicans would be willing to raise the minimum wage if democrats agree to cut the tax on capital gains. Grassley says it would be good policy, because the cut would stimulate the economy. Grassley says he doesn’t think it’s possible politically.Grassley is the top-ranking republican on the U-S Senate Finance Committee, which drafts tax bills. He says a deal’s in the works that would link tax breaks with an increase in the minimum wage, as well as increased spending for education and defense.On another subject, Grassley says he expects California Congressman Gary Condit to be out of Congress, one way or another. Grassley says Condit is going to talk himself out of a job.Grassley made his comments during today’s taping of the Iowa Public Television program “Iowa Press” which airs tonight and Sunday.