![]() to squeeze some volatility out of the market,” he said. Legislative proposals for financial transaction taxes have been surfacing with increasing regularity for at least a decade. ![]() The United States should consider the financial transaction tax “as a potential way for both the EU and the U.S. “We’re hoping that (President Barack Obama) will provide direction to Secretary Geithner to not go to (the G20 meeting) with a closed mind,” DeFazio said. French President Nicolas Sarkozy has been a strong supporter of the tax. The measure is being considered by lawmakers as a source of revenue in the. Treasury Secretary Timothy Geithner will be in France this week for a meeting of the Group of 20, a coalition of the world’s richest industrialized economies. WASHINGTON The financial services sector is girding for an extended battle over a legislative proposal requiring banks and other institutions to report customer account data meant to bring in more federal tax dollars. Opinions differ about the advantages and disadvantages and impacts on revenues and volatility in financial markets, and tax fairness of an FTT. With narrow control of the 117th Congress. These rapid traders “don’t make things, they don’t feed people - they churn,” DeFazio said. At the outset of his administration, President Biden proposed major tax changes as part of his policy initiatives. Similar bills in recent years have made no progress in Congress, undermining support for a tax at the global level, despite debt-burdened governments’ need for new revenues and widespread concern about financial market volatility.ĭeFazio said at a news conference the tax is low enough that it would have little impact on traditional financial trading, and hit hardest high-frequency trading, which he called a blight on the economy.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |