U.S. lawmakers propose tax on financial trades

10/4/2011 | Politico (Washington, D.C.)

Rep. Peter DeFazio, D-Ore., and Sen. Tom Harkin, D-Iowa, have teamed up to introduce a bill that would tax trades of stocks, bonds and derivatives. DeFazio said the proposed tax would "both raise needed revenue for the Treasury and rein in speculation on Wall Street." Industry groups have expressed their opposition to the proposed tax.

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