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Wall Street Speculation Tax: Investing in Families and Communities

This act introduces a new tax on financial transactions to fund crucial public investments. It aims to support families, improve infrastructure, protect the environment, and enhance financial stability, while minimizing the impact on average investors.
Key points
Imposes a tax on the transfer of ownership of securities, including stocks, bonds, and derivatives.
Tax rates range from 0.005% to 0.5% of the transaction value, depending on the type of security.
Revenue generated will fund free college education, student debt reduction, support for low- and moderate-income families, infrastructure improvements (water, transport), healthcare expansion (Medicare, Medicaid), and climate change initiatives.
Provides a tax credit for individuals with lower incomes (below $50,000 for singles, $75,000 for joint filers) to offset potential tax costs.
Aims to curb high-frequency trading and increase financial market stability.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_2735
Sponsor: Rep. Lee, Barbara [D-CA-13]
Process start date: 2021-04-21
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Tax on Wall Street Speculation Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2735.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-04-21.

What are the main provisions?

Key points include:

  • Imposes a tax on the transfer of ownership of securities, including stocks, bonds, and derivatives.
  • Tax rates range from 0.005% to 0.5% of the transaction value, depending on the type of security.
  • Revenue generated will fund free college education, student debt reduction, support for low- and moderate-income families, infrastructure improvements (water, transport), healthcare expansion (Medicare, Medicaid), and climate change initiatives.
  • Provides a tax credit for individuals with lower incomes (below $50,000 for singles, $75,000 for joint filers) to offset potential tax costs.
  • Aims to curb high-frequency trading and increase financial market stability.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Lee, Barbara [D-CA-13].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes Economy Public Investments