U.S. House Financial Services Committee members reintroduced a bill that would block states from imposing financial transaction taxes on, among other securities industry participants, stock exchanges and broker-dealers.
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U.S. Treasury Secretary Steven Mnuchin called for a combination of tax reform, financial regulatory reform and trade reform to drive sustained economic growth.
Representative Peter DeFazio introduced legislation that would levy a 0.03% tax on stock, bond and derivatives transactions in order to "discourage the same speculative financial trading that led to the 2008 Wall Street collapse and 2010 'Flash Crash.'"
U.S. Senators Elizabeth Warren (D-MA) and Sherrod Brown (D-OH) urged the Treasury Department to investigate whether, through involvement with a Panamanian law firm, U.S. companies and persons may have evaded tax obligations or facilitated money laundering and other illegal activity.