CHICAGO - By all estimations, the GROWTH Act is gaining momentum among lawmakers in Washington, but at least one high-ranking official said its proponents must answer some serious questions before it gets a shot at becoming a law in the months ahead.

A bipartisan bill introduced in the House of Representatives earlier this year by Paul Ryan (R-Wis.) and William Jefferson (D-La.), the GROWTH Act seeks to rewrite a broad capital gains tax that was enacted when mutual funds were an obscure investment vehicle for the rich and not the preferred retirement and educational savings choice of nearly 50% of all American households that they are today.

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