H.R. 4870 · 118th Congress
Wall Street Tax Act of 2023
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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HoyleSponsor20 cosponsors · 20 D
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Blumenauer
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Cohen
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Carson
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Grijalva
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García
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Jayapal
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Khanna
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McGovern
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Norton
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Pingree
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Pocan
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Pressley
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Smith
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Schakowsky
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Takano
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Tlaib
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Tokuda
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Watson Coleman
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Raskin
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Frost18 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill imposes a 0.1% excise tax on certain financial transactions such as the purchase of stocks, bonds, and derivatives.
What it does: CRS summary · Introduced in House · Jul 25, 2023
Wall Street Tax Act of 2023
This bill imposes a 0.1% excise tax on certain financial transactions such as the purchase of stocks, bonds, and derivatives.
The tax applies to the purchase of a security if (1) such purchase occurs on, or is subject to the rules of, a qualified board or exchange located in the United States; or (2) the purchaser or seller is a U.S. person.
A security includes
- a share of stock in a corporation;
- a partnership or beneficial ownership interest in a partnership or trust;
- a note, bond, debenture, or other evidence of indebtedness; and
- derivatives that meet specified criteria.
The tax applies to transactions with respect to a derivative if (1) the derivative is traded on, or is subject to the rules of, a qualified board or exchange located in the United States; or (2) any party with rights under the derivative is a U.S. person.
The bill exempts from such tax (1) initial issues of securities; and (2) any note, bond, debenture, or other evidence of indebtedness that is traded on or is subject to the rules of, a qualified board or exchange located in the United States, and has a fixed maturity of not more than 100 days.
The tax applies to transactions by a controlled foreign corporation and must be paid by its U.S. shareholders.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Wall Street Tax Act of 2023
Latest action (Jul 25, 2023): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jul 25, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.