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

Introduced:
Dec 23, 2009 (111th Congress, 2009–2010)
Status:
Died (Referred to Committee)
Sponsor
Thomas “Tom” Harkin
Junior Senator from Iowa
Party
Democrat
Text
Read Text »
Last Updated
Dec 23, 2009
Length
10 pages
 
Status

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

Progress
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.

Summary

No summaries available.

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

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


12/23/2009--Introduced.
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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So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

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