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United States · Bill · HR

H.R. 4191 (111th)

Let Wall Street Pay for the Restoration of Main Street Act of 2009

referredUnited States· United States Congress· EN

Introduced

3 December 2009

Last action

3 December 2009 · Introduced

Status

Referred to House Budget

Sponsors

Rep. DeFazio, Peter A. [D-OR-4], Rep. Arcuri, Michael A. [D-NY-24], Rep. Perlmutter, Ed [D-CO-7], Rep. Braley, Bruce L. [D-IA-1], Rep. Sutton, Betty [D-OH-13], Rep. Filner, Bob [D-CA-51], Rep. Perriello, Thomas S.P. [D-VA-5], Sen. Welch, Peter [D-VT], Rep. Hare, Phil [D-IL-17], Rep. Kagen, Steve [D-WI-8], Rep. Ryan, Tim [D-OH-13], Rep. Hastings, Alcee L. [D-FL-20], Rep. Schakowsky, Janice D. [D-IL-9], Rep. Davis, Lincoln [D-TN-4], Sen. Hirono, Mazie K. [D-HI], Rep. Rahall, Nick J., II [D-WV-3], Rep. Stark, Fortney Pete [D-CA-13], Rep. Cummings, Elijah E. [D-MD-7], Rep. Johnson, Henry C. "Hank" [D-GA-4], Rep. Grijalva, Raúl M. [D-AZ-7], Rep. Edwards, Donna F. [D-MD-4], Rep. Shea-Porter, Carol [D-NH-1], Rep. Kaptur, Marcy [D-OH-9], Rep. Hinchey, Maurice D. [D-NY-22], Rep. Slaughter, Louise McIntosh [D-NY-25], Rep. Sarbanes, John P. [D-MD-3], Rep. Conyers, John, Jr. [D-MI-13], Rep. Lofgren, Zoe [D-CA-18], Rep. Boswell, Leonard L. [D-IA-3], Rep. Cardoza, Dennis A. [D-CA-18], Rep. Deutch, Theodore E. [D-FL-22], Rep. Blumenauer, Earl [D-OR-3], Rep. Kucinich, Dennis J. [D-OH-10]

Subjects

Taxation

Source updated

14 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Let Wall Street Pay for the Restoration of Main Street Act of 2009 - Amends the Internal Revenue Code to impose an excise tax on certain securities transactions, including transactions in stocks, futures, swaps, credit default swaps, and options. Exempts transactions for securities held in tax-exempt retirement accounts, health savings accounts, educational accounts, and regulated investment companies. Allows the purchaser of securities a credit against the excise tax for the lesser of the tax incurred or $250 ($500 for married couples filing joint tax returns). Requires withholding of excise tax amounts by the transferor of securities subject to the tax. Requires one-half of the tax revenues raised by this Act to be held in a separate Job Creation Reserve account to offset additional costs from the Surface Transportation Authorization Act of 2009 and subsequent legislation to fund job creation. Expresses the sense of Congress that one-half of the tax revenues raised by this Act shall be used to reduce the federal deficit.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 3 December 2009

    Introduced

    Referred to House Ways and Means

    Source: IntroReferral

  2. 3 December 2009

    Introduced

    Referred to the Committee on Ways and Means, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Source: IntroReferral

  3. 3 December 2009

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 3 December 2009

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 3 December 2009

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  • Introduced in House (PDF)

    Introduced in House · EN · 3 December 2009

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  • Introduced in House

    summary · EN · 3 December 2009

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Sponsors

Related records

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Sources

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