summary
Introduced
01/15/2021
01/15/2021
In Committee
01/15/2021
01/15/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to impose a tax on certain trading transactions.
AI Summary
This bill, the Wall Street Tax Act of 2021, imposes a 0.1% tax on certain financial transactions, including purchases of securities and payments related to derivatives. The tax applies to transactions that occur on a U.S. exchange or involve a U.S. person, with some exceptions such as initial public offerings. The tax must be paid by the exchange, broker, or parties to the transaction, depending on the specifics. The bill also requires controlled foreign corporations to be treated as U.S. persons for purposes of the tax, and directs the Treasury Secretary to issue guidance and regulations to prevent avoidance of the tax.
Committee Categories
Budget and Finance
Sponsors (29)
Peter DeFazio (D)*,
Earl Blumenauer (D),
Jim Clyburn (D),
Steve Cohen (D),
Rosa DeLauro (D),
Chuy García (D),
Raúl Grijalva (D),
Alcee Hastings (D),
Pramila Jayapal (D),
Mondaire Jones (D),
Kaiali'i Kahele (D),
Ro Khanna (D),
Alan Lowenthal (D),
Jim McGovern (D),
Grace Napolitano (D),
Eleanor Holmes Norton (D),
Ilhan Omar (D),
Chellie Pingree (D),
Mark Pocan (D),
Ayanna Pressley (D),
Jamie Raskin (D),
Tim Ryan (D),
John Sarbanes (D),
Jan Schakowsky (D),
Adam Smith (D),
Mark Takano (D),
Rashida Tlaib (D),
Bonnie Watson Coleman (D),
Peter Welch (D),
Last Action
Referred to the House Committee on Ways and Means. (on 01/15/2021)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/328/all-info |
| BillText | https://www.congress.gov/117/bills/hr328/BILLS-117hr328ih.pdf |
| Bill | https://www.congress.gov/117/bills/hr328/BILLS-117hr328ih.pdf.pdf |
Loading...