S. 2927 (111th): Wall Street Fair Share Act

Dec 23, 2009 (111th Congress, 2009–2010)
Died (Referred to Committee)
Thomas “Tom” Harkin
Junior Senator from Iowa
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Last Updated
Dec 23, 2009
10 pages

This bill was introduced on December 23, 2009, in a previous session of Congress, but was not enacted.

Introduced Dec 23, 2009
Referred to Committee Dec 23, 2009
Full Title

A bill to amend the Internal Revenue Code of 1986 to impose a tax on certain securities transactions to fund job creation and deficit reduction, and for other purposes.


No summaries available.

3 cosponsors (2D, 1I) (show)

Senate Finance

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Primary Source

THOMAS.gov (The Library of Congress)

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S. stands for Senate bill.

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

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.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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