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From Securities Regulation Daily, April 18, 2013

House Bill Would Tax Stock Transactions

By Jim Hamilton, J.D., LL.M

Rep. Keith Ellison (D-MN), Co-Chair of the Congressional Progressive Caucus and Chief Deputy Whip, has introduced the Inclusive Prosperity Act (H.R. 1579) , which would add a tax of a fraction of a percent on stock and derivatives transactions done by Wall Street firms and stock traders. The tax is designed to reduce harmful financial market speculation, discourage high-volume, high-speed trading, and slow down the proliferation of ever more complex derivatives.

MainStory: TopStory Derivatives

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