U.S. lawmaker introduces bill that would tax trading

04/18/2013 | AmericanBanker.com (free registration)

U.S. Rep. Keith Ellison has introduced a bill that would impose a sales tax of 0.5% on broker-executed stock trades, as well as a smaller tax on transactions such as bond or derivatives trades. "A financial transaction tax protects our financial markets from speculation and provides the revenue needed to invest in the education, health and communities of the American people," Ellison said in a statement.

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