In a joint letter, financial industry trade associations asked U.S. Senate Majority Leader Senator Charles E. Schumer and Minority Leader Senator Mitch McConnell not to include proposed legislation titled the Modernization of Derivatives Tax Act of 2021 in any budget reconciliation process.
In a letter addressed to Senate Committee on Finance Chair Ron Wyden and ranking member Michael Crapo, the Security Traders Association highlighted the negative impact proposed legislation on derivatives would have on investors.
Commentary by Steven Lofchie
In a new whitepaper, SIFMA detailed the potential negative implications of legislation that would reimpose a New York State Stock Transfer Tax.
In a letter to New York State officials, SIFMA and 26 other organizations expressed opposition to "any form" of a New York State Stock Transaction Tax.
In response to requests for comments issued by the United States Senate Committee on Finance, SIFMA and the United States Chamber of Commerce each offered recommendations on comprehensive tax reform.