"Rep. Lee and Sen. Sanders Introduce Tax on Wall Street Speculation Act to Curb Greed
Washington, D.C. – Today, Representative Barbara Lee (D-Calif.) and Senator Bernie Sanders (I-Vt.) introduced the Tax on Wall Street Speculation Act along with Senator Kirsten Gillibrand (D-N.Y.) and ten House Democrats.
The legislation imposes a tax of a fraction of a percent on the trades of stocks, bonds, and derivatives. This tax on Wall Street speculation, also known as a financial transaction tax, is estimated to generate up to $2.4 trillion in public revenue from wealthy investors over 10 years. An added benefit of the proposed tax is deterring the high-frequency trading that increases the instability of the financial sector and produces no economic value. "
https://lee.house.gov/news/press-re...on-wall-street-speculation-act-to-curb-greed-