Wall Street Tax Act (H.R. 328)

     "Financial transaction taxes at the federal or state level unfairly target America’s mom-and-pop investors and working families saving for retirement." Source: Chris Iacovella (Chief Executive of the American Securities Association)


     "[A broad financial transaction tax will do] unintended damage to everyday families saving for retirement or higher education." Source: Charles Kurtz  (Vanguard spokesman)

     "Some days high-frequency traders trade billions of shares that they sometimes hold for only seconds or less. They reap enormous financial benefits for themselves but add no value to our economy." Source: Rep. Peter DeFazio (Democrat, Oregon, District 4)


     "The Wall Street Tax Act is a common-sense way to help restore a measure of fairness and balance to our economy. It would make wealthy investors who have profited throughout this pandemic pay a fairer share of taxes. The $777 billion it would raise is desperately needed to recover from this COVID-19 depression and to promote growth in our economy..." Source: Frank Clemente (Executive Director of Americans for Tax Fairness)


     "The Wall Street Tax Act would reduce incentives for Wall Street’s most reckless and least valuable speculative activity and instead encourage Wall Street to find new ways to make money from longer term, productive investments that create jobs, and develop products and services that make the U.S. competitive in a global economy." Source: Kelly Ross (AFL-CIO Policy Director)

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