Summary
Touting it as a way to curb financial speculation and funnel Wall Street profits to Main Street businesses, Democratic lawmakers on Capitol Hill introduced Wednesday a bill to tax trading activity by investment banks and financial firms.
Financial industry lobbies immediately attacked the proposal, warning it would harm the competitiveness of the U.S. capital markets. But the idea, which has also been pushed by some European leaders, is likely to get an airing at the Group of 20 economic summit that begins Thursday in France.See the full content of this document
Extract
; Financial Industry Sees Harm to U.S.
Congressional Democrats said the Wall Street Trading and Speculators Tax Act would impose a 0.03 percent tax on the value of each tra...
See the full content of this document
Sponsored links
