House Dems Float Bill To Impose Tax On Stock, Bond Trades

Law360, New York (April 17, 2013, 6:46 PM EDT) -- House Democrats on Wednesday introduced legislation that would slap a small tax on stocks, bonds, derivatives and other financial transactions that they say could generate hundreds of billions of dollars in revenues for the government each year.

Under the bill — The Inclusive Prosperity Act, H.R. 1579 — all stock trades would be hit with a 0.5 percent sales tax and trades of bonds, derivatives and other products would see a slightly lower levy. Brokers would be hit with the tax, unless investors carried out the...
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