Rep. Ellison introduces a bill that would tax trading

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

The Inclusive Prosperity Act, a bill that Rep. Keith Ellison, D-Minn., introduced Wednesday, would impose a sales tax of 0.5% on broker-executed stock trades, as well as a smaller tax on other transactions such as bond or derivative 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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