US Congress Archives - The Industry Spread

A Financial Transaction Tax- a Tax Which Would Charge for Every Single Trade- has been Introduced in the US Congress.

May 27, 2019

Senator Bernie Sanders a Democrat of the State of Vermont, Senator Kristen Gillibrand a Democrat of the State of New York, and Congresswoman Barbara Lee a Democrat from the State of California, each introduced the Prosperity Act.  This proposed bill “imposes a tax of a fraction of a percent on the trades of stocks, bonds, and derivatives. This tax on Wall Street speculation, also known as a financial transaction tax, is estimated to generate up to $2.4 trillion in public revenue from wealthy investors over 10 years.