118th Congress Taxation
S. 2491: Wall Street Tax Act of 2023
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill imposes a 0.1% excise tax on certain purchases of stocks, bonds, and derivatives.
The tax applies to the purchase of a security if (1) such purchase occurs on, or is subject to the rules of, a qualified board or exchange located in the United States; or (2) the purchaser or seller is a U.S. person.
The tax applies to transactions with respect to a derivative if (1) the derivative is traded on, or is subject to the rules of, a qualified board or exchange located in the United States; or (2) any party with rights under the derivative is a U.S. person.
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The bill exempts from such tax (1) initial issues of securities; and (2) any note, bond, debenture, or other evidence of indebtedness which is traded on or is subject to the rules of, a qualified board or exchange located in the United States, and has a fixed maturity of not more than 100 days.
The tax applies to transactions by a controlled foreign corporation and must be paid by its U.S. shareholders.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- John Fetterman D-PAOriginal
- Jeff Merkley D-OROriginal
- Chris Van Hollen D-MDOriginal
- Sheldon Whitehouse D-RIOriginal
- Elizabeth Warren D-MAOriginal
Who scored on this bill
No member has earned points from it yet.
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History
- Introduced in the Senate by Brian Schatz.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.