Bill > HR4870

This bill, called the Wall Street Tax Act of 2023, proposes to amend the Internal Revenue Code to impose a 0.1% tax on certain financial transactions, including purchases of stocks, bonds, and derivatives traded on U.S. exchanges or involving U.S. parties. The bill defines "covered transactions" subject to the tax and specifies who is responsible for paying the tax. It also provides exceptions for certain transactions, such as the initial issuance of securities and some real estate and commodity contracts. The bill also requires information reporting by controlled foreign corporations and grants the Secretary of the Treasury authority to issue regulations to prevent avoidance of the tax.