Regulatory Outlook | 01.20.21
New Jersey Lawmaker’s Proposal for Financial Transaction Tax Appears All but Dead
A proposal to raise hundreds of millions of dollars for New Jersey through a small tax on every Wall Street financial trade processed on servers located in the state appears to be dead. Introduced in July, the proposed financial transaction taxquickly gained favor with Gov. Phil Murphy and Democratic leaders in the state Legislature. But three months after the General Assembly held an informational hearing on the bill, it has not moved. And with 10 months to go before Murphy and all 120 legislative seats are up for election, there are no plans to advance the measure.
Read the full article on Politico Pro.