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Wall Street Speculation Tax: New Transaction Fees and Investor Credits.

This law introduces a small new tax on the purchase and sale of most securities, including stocks, bonds, and derivatives. The revenue generated is intended to fund public investments like infrastructure and environmental protection. To shield small investors, individuals below specific income thresholds ($50,000 single, $75,000 joint) can claim a full tax credit for the transaction tax paid.
Key points
A new financial transaction tax (ranging from 0.005% to 0.5%) is imposed on the transfer of ownership of stocks, bonds, derivatives, and digital assets.
Lower-income individuals who are beneficial owners of the securities can claim a full tax credit for the tax paid, effectively exempting them from the new fee.
The tax revenue is earmarked for public investments aimed at improving infrastructure, communities, and the environment.
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Additional Information
Print number: 118_S_1990
Sponsor: Sen. Sanders, Bernard [I-VT]
Process start date: 2023-06-14
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Summarized by: gemini-2.5-flash-preview-09-2025
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 118_S_1990.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-06-14.

What are the main provisions?

Key points include:

  • A new financial transaction tax (ranging from 0.005% to 0.5%) is imposed on the transfer of ownership of stocks, bonds, derivatives, and digital assets.
  • Lower-income individuals who are beneficial owners of the securities can claim a full tax credit for the tax paid, effectively exempting them from the new fee.
  • The tax revenue is earmarked for public investments aimed at improving infrastructure, communities, and the environment.
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 Sen. Sanders, Bernard [I-VT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Public Investments Economy