Bill > S817

This bill, the Wall Street Tax Act of 2021, would impose a 0.1% tax on certain financial transactions, including purchases of stocks, bonds, derivatives, and other securities traded on U.S. exchanges or involving U.S. persons. The tax would not apply to initial public offerings or certain short-term debt instruments. The bill specifies who is responsible for paying the tax (e.g., exchanges, brokers, or parties to the transaction) and provides the Treasury Department with authority to issue regulations to prevent avoidance of the tax. The bill also requires controlled foreign corporations to be treated as U.S. persons for purposes of the tax, with the tax paid by their U.S. shareholders.