arrow_back Back to App

Wall Street Speculation Tax: Investing in Families and Communities

This act introduces a new tax on trading transactions involving securities like stocks, bonds, and derivatives. The aim is to generate funds for investments in families, communities, infrastructure, and the environment. Individuals with lower incomes may be eligible for a credit for the tax paid.
Key points
New tax on trading transactions: applies to buying and selling stocks, bonds, derivatives, and digital assets.
Tax rates: ranging from 0.005% to 0.5% of the transaction value, depending on the type of security.
Tax credit for citizens: individuals with modified adjusted gross income below $50,000 ($75,000 for joint filers) may receive a credit for the tax paid.
Exemptions: the tax does not apply to initial security issuances, short-term debt (up to 60 days), and certain securities lending arrangements.
Penalties for non-reporting: penalties are imposed for failing to include required information about covered transactions.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_4119
Sponsor: Rep. Lee, Barbara [D-CA-12]
Process start date: 2023-06-14
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

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 118_HR_4119.

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 2023-06-14.

What are the main provisions?

Key points include:

  • New tax on trading transactions: applies to buying and selling stocks, bonds, derivatives, and digital assets.
  • Tax rates: ranging from 0.005% to 0.5% of the transaction value, depending on the type of security.
  • Tax credit for citizens: individuals with modified adjusted gross income below $50,000 ($75,000 for joint filers) may receive a credit for the tax paid.
  • Exemptions: the tax does not apply to initial security issuances, short-term debt (up to 60 days), and certain securities lending arrangements.
  • Penalties for non-reporting: penalties are imposed for failing to include required information about covered transactions.
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-12].

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 2025-12-25.

CATEGORIES

Taxes Economy Public Investments