S. 2927 · 111th Congress
Wall Street Fair Share Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
HarkinSponsor3 cosponsors · 2 D, 1 I
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Wall Street Fair Share Act - Amends the Internal Revenue Code to impose an excise tax on securities trading facilities, brokers, and purchasers for certain securities transactions. Sets such tax at .25% of the fair market value of the security traded.
What it does: CRS summary · Introduced in Senate · Dec 23, 2009
Wall Street Fair Share Act - Amends the Internal Revenue Code to impose an excise tax on securities trading facilities, brokers, and purchasers for certain securities transactions. Sets such tax at .25% of the fair market value of the security traded. Defines "security" to include stock in a corporation, partnership interests, debt instruments, or interests in certain derivative financial instruments. Exempts from such tax an initial issue of securities, transactions in certain retirement, education, and health savings accounts, and transactions in mutual funds. Allows the purchaser of securities a credit against the excise tax for the lesser of the tax incurred or $250 ($500 for married couples filing joint tax returns). Requires withholding of excise tax amounts by the transferor of securities subject to the tax.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Wall Street Fair Share Act
Latest action (Dec 23, 2009): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Dec 23, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.