Trader Tax?

Discussion in 'Trading' started by DB, Mar 16, 2009.

  1. DB


    Has anyone heard of any progress/action re HR 1068?
  2. You can track the bill's progress here

    It has a ways to go.
  3. DB


    I've been tracking it there, but wondering if anyone knew any more than what was there. Thanks for that info., however.
  4. As it says on the web site:

    "This bill is in the first step in the legislative process. Introduced bills and resolutions first go to committees that deliberate, investigate, and revise them before they go to general debate. The majority of bills and resolutions never make it out of committee."

    It'll probably be in the Ways and Means Committee queue for months before they even hear it.
  5. DB


    Now there's a positive spin. I've read that DeFazio has proposed the Trader Tax before and always shut down by Pelosi. Also, Schumer shouldn't like this tax as it will likely hurt NY revenues...
  6. Rex84


    That bill is from the 110th congress, it is outdated

    As someone who used to work in congress, I can tell you, I highly doubt it will pass. I don't think this bill has a senate counterpart (and I have never heard of a bill in modern history passing without it being introduced in both chambers), and it only has 9 cosponsors, and they consist of people like Lynn Woolsey and Barbara Lee.
  7. DB


    Thanks so much for your comment. I don't know, but it seems like the market community would come unglued over something like this. Plus, I hear DeFazio is a real nutjob.