WILLIAM H. GRAY
(William Herbert Gray III)
Describing a proposed capital gains tax cut:
In the summer of 1989 the House was anxious to adjourn for the summer recess but the savings and loan bailout legislation was stalled. The leaders of both parties forged a compromise which was not enthusiastically received by their members. A Democratic leader advised:
Referring to President Bush's winning a roll-call vote in the House on lowering the capital gains tax:
William Herbert Gray III was an American politician and member of the Democratic Party who represented Pennsylvania's 2nd congressional district from 1979 to 1991. He also served as chairman of the House Committee on the Budget from 1985 to 1989 and House Majority Whip from 1989 to 1991. He resigned from Congress in September of that year to become president and chief executive officer of the United Negro College Fund, a position he held until 2004.
