US Senators introduce financial transaction tax proposal

From The Hill:

Sen. Bernie Sanders (I-Vt.) and Rep. Barbara Lee (D-Calif.) on Wednesday introduced legislation to tax stock, bond and derivatives trading.

The Inclusive Prosperity Act, co-sponsored by Sen. Kirsten Gillibrand (D-N.Y.), would impose a tax of a “fraction of a percent” on such transactions but could generate as much as $2.4 trillion from Wall Street investors over a decade. It could also discourage high-frequency trading, which Lee and Sanders said hurts the stability of financial markets without generating any economic value.

The full article is available at

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