Wall Street Trading and Speculators Tax Act

Summary

Wall Street Trading and Speculators Tax Act - Amends the Internal Revenue Code to impose a .03% excise tax on the purchase of a security: (1) if such purchase occurs on a trading facility located in the United States, or (2) the purchaser or seller is a U.S. person. Defines "security" to include: (1) stocks, partnership interests, notes, bonds, debentures, or other evidences of indebtedness; and (2) interests in a derivative financial instrument (i.e., any option, forward contract, futures contract, notional principal contract, or any similar financial instrument). Exempts from such tax: (1) initial issues of securities; (2) any note, bond, debenture, or other evidence of indebtedness which has a fixed maturity of not more than 100 days; and (3) securities traded pursuant to certain lending arrangements.

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Timeline

1. 2 November 2011

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 2 November 2011

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 2 November 2011 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 2 November 2011

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 2 November 2011

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 2 November 2011

  Open at official source

Sponsors

• Rep. Harkin, Tom [D-IA-5] · D · Sponsor
• Bernie Sanders · I · Sponsor
• Sen. Brown, Sherrod [D-OH] · D · Sponsor
• Sheldon Whitehouse · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Comprehensive Dental Reform Act of 2012
• related to → Inclusive Prosperity Act
• related to → Wall Street Trading and Speculators Tax Act
• related to ← Comprehensive Dental Reform Act of 2012