U.S. lawmakers plan to introduce transaction-tax bill

02/20/2013 | Trade News (U.K.), The

Political momentum for a U.S. financial-transaction tax seems weak, but two Democrats -- Sen. Tom Harkin of Iowa and Rep. Peter DeFazio of Oregon -- stand ready to reintroduce a bill to tax bond and equity transactions at 0.03%. Derivatives would be taxed, too, at a yet-to-be-determined rate. Those in the industry say such levies would curb economic growth and shrink trading volume.

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