H.R. 1068: | Let Wall Street Pay for Wall Street's Bailout Act of 2009 |
111th Congress 2009-2010 |
To amend the Internal Revenue Code of 1986 to impose a tax on certain securities transactions to the extent required to recoup the net cost of the Troubled Asset Relief Program.
OverviewSponsor: | | Text: | Summary
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Full Text | Status: |  | Introduced | Feb 13, 2009 | | Referred to Committee | View Committee Assignments |  | Reported by Committee | ... | | House Vote | ... | | Senate Vote | ... | | Signed by President | ... |
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[Last Updated: Jan 5, 2010 9:23PM] | Last Action: | Feb 13, 2009:
Referred to the House Committee on Ways and Means. | Related: | See the Related Legislation page for other bills related to this one and a list of subject terms
that have been applied to this bill.
Sometimes the text of one bill or resolution is incorporated into another, and in those cases the original bill or resolution, as it would appear here, would seem to be abandoned. |
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Question & Answer 
Can you answer any of these questions posed by other users? Think of it as a civic good deed.
See 13 more questions posed on this topic or submit your own question on the Q&A page.
Jun 1, 2009 10:18 AM - A transaction tax on all buying and selling of houses, mortgages, and CDO's, and MBS's would tax those who truly benefit from the TARP bailouts, so why is this bill not targeted at the housing related transactions?? -
Read AnswersAnswered by a visitor on Jun 9, 2009 9:26 AM -
Most states already have real estate transfer taxes. The interest earned on CDO's, MBS and ABS securities are all taxed. Why would this form of double taxation make sense as anything other than a punitive measure? Answered by a visitor on Jun 23, 2009 2:43 PM -
"Most states already have real estate transfer taxes." The federal government and most states already tax the proceeds of securities sales. So it would also be punitive to add an additional tax on each security transaction. Dec 7, 2009 1:08 PM - Are trades completed within an individual IRA exempted? -
Answer it! |
Sources of Influence
MAPLight.org reports that the following organizations
have taken a stance on this bill:
| Support | Oppose |
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U.S. Public Interest Research Groups | Wedbush Morgan Securities Securities Traders Association Credit Suisse |
Follow the link to MAPLight.org to see if campaign contributions from employees of these organizations are correlated with how Members of Congress voted on this bill.
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H.R. 1068--111th Congress: Let Wall Street Pay for Wall Street's Bailout Act of 2009.
(2009).
In GovTrack.us (database of federal legislation).
Retrieved Feb 10, 2010, from
http://www.govtrack.us/congress/bill.xpd?bill=h111-1068
"H.R. 1068--111th Congress: Let Wall Street Pay for Wall Street's Bailout Act of 2009."
GovTrack.us (database of federal legislation).
2009.
Feb 10, 2010
<http://www.govtrack.us/congress/bill.xpd?bill=h111-1068>
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