US Congress Senate Bill 1787 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Introduced on November 2 2011 - 25% progression, died in committee
Action: 2011-11-02 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

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.

Wall Street Trading and Speculators Tax Act

Sen. Tom Harkin [D-IA]

Sen. Sherrod Brown [D-OH]

Sen. Bernard Sanders [I-VT]

Sen. Sheldon Whitehouse [D-RI]

Date	Chamber	Action
2011-11-02	Senate	Read twice and referred to the Committee on Finance.

HB3313 (Same As) 2011-11-02 - Referred to the House Committee on Ways and Means.
HB5909 (Related) 2012-07-10 - Referred to the Subcommittee on Military Personnel.
SB3272 (Related) 2012-06-07 - Read twice and referred to the Committee on Finance.
HB6411 (Related) 2012-09-14 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/1787/all-info
Text	https://www.congress.gov/112/bills/s1787/BILLS-112s1787is.pdf