The bill would create a federal tax on certain purchases and derivative transactions involving securities. It would apply to transactions on or subject to the rules of a qualified U.S. exchange, and to some transactions involving U.S. persons. The tax rate would start at 0.02% for transactions in 2026 and rise by 0.02 percentage points each year until it reaches 0.1% for transactions after 2029. The tax would generally be based on a security’s fair market value, or on a payment made under a derivative. The bill excludes certain initial security issuances and certain short-term debt.
People and businesses involved in covered trades could owe the tax. The bill assigns payment responsibility to exchanges, some U.S. brokers, or—in other cases—the purchaser, seller, payor, or payee, depending on the transaction. The bill does not describe how the tax would affect trading activity or prices.
The tax rate would range from 0.02% to 0.1% of the specified base amount, depending on when the transaction occurs. No publicly available information on total costs or revenue estimates.
No publicly available information.
No publicly available information.