HR 7125 · 110th Congress 2007–2009, ended

Let Wall Street Pay for Wall Street's Illiquid Assets Act of 2008

Introduced Sep 26, 2008 Originated House Sponsor Peter A. DeFazio D-OR

Fact sheet Spreadsheet

Latest action · Sep 26, 2008 Referred to the House Committee on Ways and Means.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedSep 26, 2008
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Let Wall Street Pay for Wall Street's Illiquid Assets Act of 2008 - Amends the Internal Revenue Code to impose an excise tax on securities or commodity transactions equal to 0.25% of the value of the instruments involved in such transactions. Makes such tax payable by the trading facility on which such transactions occur.

Cosponsors 34

Members who signed on, in the order they did. Signatures ran from Sep 26, 2008 to Oct 2, 2008; 27 are original cosponsors, there from the day it was introduced.

SeatCosponsorSigned on
D-NJAlbio SiresOriginalSep 26, 2008
D-CABarbara LeeOriginalSep 26, 2008
D-KYBen ChandlerOriginalSep 26, 2008
D-CABob FilnerOriginalSep 26, 2008
D-LACharlie MelanconOriginalSep 26, 2008
D-ORDavid WuOriginalSep 26, 2008
D-OHDennis J. KucinichOriginalSep 26, 2008
D-CADiane E. WatsonOriginalSep 26, 2008
D-MDDonna F. EdwardsOriginalSep 26, 2008
D-CAFortney Pete StarkOriginalSep 26, 2008
D-CAGeorge MillerOriginalSep 26, 2008
D-GAHenry C. "Hank" Johnson, Jr.OriginalSep 26, 2008
D-ILJerry F. CostelloOriginalSep 26, 2008
D-WAJim McDermottOriginalSep 26, 2008
D-GAJohn LewisOriginalSep 26, 2008
Show all 34 cosponsors

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseWays and Means Committee
Referred Sep 26, 2008

Actions 2

Everything that happened, newest first.

  1. Sep 26, 2008Introduced in House
  2. Sep 26, 2008Referred to the House Committee on Ways and Means.

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

CRS reports 1

Congressional Research Service work that CRS links to this bill or the law it became, newest first.

Cite it 1

Products on other subjects that cite it, usually among other measures.

ProductTitleKindPublished
R42078Financial Transactions Taxes: In Brief ArchivedReportFeb 23, 2021

Titles 2

Every title it has carried, official and short, at each stage.

Official Title as Introduced
To amend the Internal Revenue Code of 1986 to impose a tax on securities transactions.
Short Titles as Introduced
Let Wall Street Pay for Wall Street's Illiquid Assets Act of 2008

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

Text 1

Each version as it was printed, newest first.

  1. Sep 26, 2008Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.