Bill > HR4035

This bill, known as the Wall Street Tax Act of 2025, would impose a new tax on financial trading transactions, gradually increasing the tax rate from 0.02% to 0.1% between 2025 and 2030. The tax would apply to a wide range of financial transactions, including stocks, partnership interests, bonds, and derivatives, conducted on U.S. exchanges or involving U.S. persons. The tax would be calculated based on the fair market value of securities or the payment amount for derivatives, with specific rules for who is responsible for paying the tax depending on the type of transaction and the parties involved. The bill includes numerous exceptions, such as initial security issues and certain types of transactions like securities lending and insurance contracts. The tax would be administered by the Secretary of the Treasury in consultation with the Securities and Exchange Commission and the Commodity Futures Trading Commission, with provisions for information reporting and regulations to prevent tax avoidance. Controlled foreign corporations would be treated as U.S. persons for the purposes of this tax, with U.S. shareholders potentially responsible for tax payments. The legislation aims to generate revenue by implementing a small but broad-based tax on financial transactions.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/4035/all-info