Organizations' Letter Opposing Global and Extraterritorial Financial Transactions Tax (FTT) Proposals

SIFMA, ICI, U.S. Chamber of Commerce and the Financial Services Roundtable submitted a letter to U.S. Department of the Treasury Timothy F. Geithner regarding their opposition to a national, global or regional financial transactions tax ("FTT"), asserting that such a levy would contribute to economic uncertainty and distort the ability of investors and businesses to make long-term economic decisions. The organizations argue that an FTT will impede growth, fragment markets, increase market volatility, destroy savings, and encourage uneconomic tax-motivated decision making.

View letter in full here (links externally).