S 1787 · 112th Congress 2011–2013, ended

Wall Street Trading and Speculators Tax Act

Introduced Nov 2, 2011 Originated Senate Sponsor Tom Harkin D-IA

Fact sheet

Latest action · Nov 2, 2011 Read twice and referred to the Committee on Finance.

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.

IntroducedNov 2, 2011
Passed SenateNot reached
Passed HouseNot reached
To the PresidentNot reached
Became lawNot reached

Summary

Wall Street Trading and Speculators Tax Act - Amends the Internal Revenue Code to impose a .03% excise tax on the purchase of a security: (1) if such purchase occurs on a trading facility located in the United States, or (2) the purchaser or seller is a U.S. person.

Defines "security" to include: (1) stocks, partnership interests, notes, bonds, debentures, or other evidences of indebtedness; and (2) interests in a derivative financial instrument (i.e., any option, forward contract, futures contract, notional principal contract, or any similar financial instrument).

Exempts from such tax: (1) initial issues of securities; (2) any note, bond, debenture, or other evidence of indebtedness which has a fixed maturity of not more than 100 days; and (3) securities traded pursuant to certain lending arrangements.

Cosponsors 3

Members who signed on, in the order they did. Signatures ran from Nov 2, 2011 to Feb 16, 2012, with 2 there on the day it was introduced.

Seat	Cosponsor		Signed on
I-VT	Bernard Sanders	Original	Nov 2, 2011
D-OH	Sherrod Brown	Original	Nov 2, 2011
D-RI	Sheldon Whitehouse		Feb 16, 2012

Actions 2

Everything that happened, newest first.

Nov 2, 2011Introduced in Senate
Nov 2, 2011Read twice and referred to the Committee on Finance.

Related bills 4

Companion bills and other measures the record links to this one.

Bill	Title	Relationship	Latest action
S 3272	Comprehensive Dental Reform Act of 2012	Related bill	Jun 7, 2012
HR 3313	Wall Street Trading and Speculators Tax Act	Identical bill	Nov 2, 2011
HR 5909	Comprehensive Dental Reform Act of 2012	Related bill	Jul 10, 2012
HR 6411	Inclusive Prosperity Act	Related bill	Sep 14, 2012

Subjects

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

Text 1

Each version as it was printed, newest first.

Nov 2, 2011Introduced in Senate

Support LegiList

This page is free, carries no paywall, and is built and maintained by one person. If the record here is useful to you, a few dollars keeps it going.

$1 $5 $10

Processed by Stripe in a separate window. LegiList never sees card details.

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.