U.S. Congress - H.R.4191 Let Wall Street Pay for the Restoration of Main Street Act of 2009
H.R.4191 - Let Wall Street Pay for the Restoration of Main Street Act of 2009
To amend the Internal Revenue Code of 1986 to impose a tax on certain securities transactions to fund job creation and deficit reduction. view all titles (2)
All Bill Titles
- Official: To amend the Internal Revenue Code of 1986 to impose a tax on certain securities transactions to fund job creation and deficit reduction. as introduced.
- Short: Let Wall Street Pay for the Restoration of Main Street Act of 2009 as introduced.
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- Past Seven Days: 26
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Official Summary
12/3/2009--Introduced.Let Wall Street Pay for the Restoration of Main Street Act of 2009 - Amends the Internal Revenue Code to impose an excise tax on certain securities transactions, including transactions in stocks, futures, swaps, credit default swaps, and options. Exempts transactionsOfficial Summary
12/3/2009--Introduced.Let Wall Street Pay for the Restoration of Main Street Act of 2009 - Amends the Internal Revenue Code to impose an excise tax on certain securities transactions, including transactions in stocks, futures, swaps, credit default swaps, and options. Exempts transactions for securities held in tax-exempt retirement accounts, health savings accounts, educational accounts, and regulated investment companies. Allows the purchaser of securities a credit against the excise tax for the lesser of the tax incurred or $250 ($500 for married couples filing joint tax returns). Requires withholding of excise tax amounts by the transferor of securities subject to the tax. Requires one-half of the tax revenues raised by this Act to be held in a separate Job Creation Reserve account to offset additional costs from the Surface Transportation Authorization Act of 2009 and subsequent legislation to fund job creation. Expresses the sense of Congress that one-half of the tax revenues raised by this Act shall be used to reduce the federal deficit....Read the Rest
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Recent Blog Coverage
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Is "Dumb Money" Coming Back to the US Stock Market? | EX-SKF
... guest post (1); Gulf of Mexico oil spill (48); H.R. (1); H.R. 1207 (7); H.R. 3200 (12); H.R. 3269 (2); H.R. 3590 (1); H.R. 3962 (2); H.R. 4130 (1); H.R. 4173 (2); H.R.1207 (7); H.R.2346 (2); H.R.3200 (15); H.R.4191 (1); H1N1 (9) ...
Americans for Financial Reform » President Obama's Deficit ...
We support the proposals introduced in the House and the Senate by Representative Peter DeFazio and Senator Tom Harkin (HR 4191 and S 2927) that would designate such a tax for job creation and deficit reduction. These bills would exempt ...
Arlene Goldbard » Blog Archive » Undigested Assumptions
In a full year, “H.R. 4191: Let Wall Street Pay for the Restoration of Main Street Act of 2009″ has acquired a paltry 31 sponsors and been moved into committee, where it is permanently parked. Why aren't these realistic, ...
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