SIFMA CEO Releases Statement on Proposed Foreign Financial Transaction Tax Legislation

SIFMA CEO Judd Gregg released a statement thanking Congressman Tom Price (R-GA) and Senator Pat Roberts (R-KS) for introducing the Protect American Investment Act of 2013 (HR 2546), which would restrict foreign taxes on domestic private security transactions. The legislation would make it clear that Americans should not be required to pay tax to a foreign government for buying or selling United States securities within the United States. Additionally, a group of Congressional leaders sent a letter to Treasury Secretary Jack Lew expressing concern over the EC's decision to implement a financial transaction tax.

See: SIFMA CEO Gregg's Statement.See also: Congressional Letter to Secretary Lew.