Bloomberg News

Financial-Transaction Tax Plan Outlined by U.S. Lawmakers Today

November 02, 2011

Nov. 2 (Bloomberg) -- Two U.S. lawmakers say they will propose a financial-transaction tax of 0.03 percent on most trading of stocks, bonds and derivatives products.

Senator Tom Harkin of Iowa and Representative Peter DeFazio of Oregon, both Democrats, discussed plans for the legislation today at a Washington news conference, saying they will introduce measures in their respective chambers.

The plan described by the two lawmakers would impose lower taxes on financial transactions than measures they’ve pushed during the past two years. The earlier proposals weren’t considered in Congress.

To contact the reporter on this story: Phil Mattingly in Washington at pmattingly@bloomberg.net

To contact the editor responsible for this story: Lawrence Roberts at lroberts13@bloomberg.net


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