News | 03.05.19
House Democrats Are Reintroducing a Financial Services Tax
House Democrats are reintroducing their proposal of a financial transaction tax on stock, bond, and derivative deals. Rep. Peter DeFazio (D-OR) is leading the effort to bring back a bill, titled the "Wall Street Tax Act of 2019," which imposes a tax on securities transactions and could have a particular negative effect on high-frequency traders. Rep. Alexandria Ocasio-Cortez, (D-NY) is the lead co-sponsor. The last time DeFazio tried to get a similar piece of legislation to the floor was in 2017, with the goal of avoiding another flash crash.
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