Official Bill Info

• Latest Action: Feb 13, 2009 Introduced in House

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• Committee Assignment: House Ways and Means

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  This bill has been assigned to the House Ways and Means committee.

Bill Statistics on OpenCongress

Contribution Data

Supporting Organizations

• U.S. Public Interest Research Groups

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  I know that the organization U.S. Public Interest Research Groups supports H.R.1068

Opposing Organizations

• Securities Traders Association

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  I know that the organization Securities Traders Association opposes H.R.1068
• Wedbush Morgan Securities

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  I know that the organization Wedbush Morgan Securities opposes H.R.1068
• Credit Suisse

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  I know that the organization Credit Suisse opposes H.R.1068

Most-commented sections of the bill text

• ‘(B) 0.25 percent. (1 comments, Link )

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  specifically, this section of the legislation: "‘(B) 0.25 percent.",
• This Act may be cited as the ‘Let Wall Street Pay for Wall Street’s Bailout Act of 2009’. (1 comments, Link )

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  specifically, this section of the legislation: "This Act may be cited as the ‘Let Wall Street Pay for Wall Street’s Bailout Act of 2009’.",
• ‘(b) By Whom Paid- The tax imposed by this section shall be paid by the trading facility on which the transaction occurs. (1 comments, Link )

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  specifically, this section of the legislation: "‘(b) By Whom Paid- The tax imposed by this section shall be paid by the trading facility on which the transaction occurs.",

Highest Rated User Comments

• On February 20, 2009, by Anonymous - I'm an active trader in addition to having a day job as an engineer. With 100k in an account I may do $2 mil in transactions doing 20 trades a year (active trader --- right). That will cost me $10k in taxes, are you kidding?? That's 10% of my equity. At this point I am ready to take all my money out of the markets, banks etc. buy physicals and bury them in my backyard.

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  As noted by Anonymous, a user on OpenCongress.org, on February 20, 2009, "I'm an active trader in addition to having a day job as an engineer. With 100k in an account I may do $2 mil in transactions doing 20 trades a year (active trader --- right). That will cost me $10k in taxes, are you kidding?? That's 10% of my equity. At this point I am ready to take all my money out of the markets, banks etc. buy physicals and bury them in my backyard."
• On March 03, 2009, by Anonymous - You Can't be seriously considering this! This bill would virtually dry up liquidity in ALL markets. Liquidity is the only constant that traders can count on. It would be VERY dertimental to the marketplace as a whole. It would sideline an enormous amount of investors, when the whole world needs investments like never before. The recession would turn to a DEEP depression virtually overnight. People seem to forget that Wall Street and Main Street are really one in the same. What affects one will ultimately affect the other. Concerned Citizen, Newport, TN

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  As noted by Anonymous, a user on OpenCongress.org, on March 03, 2009, "You Can't be seriously considering this! This bill would virtually dry up liquidity in ALL markets. Liquidity is the only constant that traders can count on. It would be VERY dertimental to the marketplace as a whole. It would sideline an enormous amount of investors, when the whole world needs investments like never before. The recession would turn to a DEEP depression virtually overnight. People seem to forget that Wall Street and Main Street are really one in the same. What affects one will ultimately affect the other. Concerned Citizen, Newport, TN"
• On March 03, 2009, by Anonymous - Peter DeFazio: This guy should be fired, ASAP. If his financial madness gets the light of day, I'm done with the Dems, Oregon, and any other entity affiliated. I will never spend another penny in Oregon if this bill passes, and I will never vote for a democrat again. Truly yours, Support American Business

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  As noted by Anonymous, a user on OpenCongress.org, on March 03, 2009, "Peter DeFazio: This guy should be fired, ASAP. If his financial madness gets the light of day, I'm done with the Dems, Oregon, and any other entity affiliated. I will never spend another penny in Oregon if this bill passes, and I will never vote for a democrat again. Truly yours, Support American Business "

Highly Rated Blog Articles

• HR1068 - OpenCongress - March 13, 2011 by opencongress.org - Or, if you know of a news article about this bill to display here, email us the web address of this page and the web address of your suggested news article: Our editorial team will post relevant links as quickly as ...

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  As noted by opencongress.org on March 13, 2011, "Or, if you know of a news article about this bill to display here, email us the web address of this page and the web address of your suggested news article: Our editorial team will post relevant links as quickly as ..." (http://www.opencongress.org/bill/112-h1068/show)
• Equal Health Network » Blog Archive » On taxes in HR 676 - December 27, 2010 by Equal Health Network - Completely absurd is the proposal to add the content of HR-1068 to HR-676. The DeFazio bill was designed to require financial-services companies to pay for their federal bailouts over time. That at least had some internal consistency. ...

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  As noted by Equal Health Network on December 27, 2010, "Completely absurd is the proposal to add the content of HR-1068 to HR-676. The DeFazio bill was designed to require financial-services companies to pay for their federal bailouts over time. That at least had some internal consistency. ..." (http://equalhealth.info/discuss/?p=50)
• HR676.org Blog » Blog Archive » Conyers Offices Announces Changes ... - December 25, 2010 by HR676.org Blog - Defazio's H.R. 1068. All revenue from the tax will go into the Program's trust fund. · More specific language on the establishment of global budgets from the Weiner Single-Payer Amendment*For more information, please contact Michael ...

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  As noted by HR676.org Blog on December 25, 2010, "Defazio's H.R. 1068. All revenue from the tax will go into the Program's trust fund. · More specific language on the establishment of global budgets from the Weiner Single-Payer Amendment*For more information, please contact Michael ..." (http://s209363542.onlinehome.us/2010/12/27/conyers-offices-announces-changes-to-hr676/)

Highly Rated News Articles

• War Against Wall Street - March 05, 2009 by CNBC - The proposed House of Representatives' bill-HR 1068: Let Wall Street Pay for Wall Street's Bailout Act of 2009 was born out of taxpayer outrage. ...

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  As noted by CNBC on March 05, 2009, "The proposed House of Representatives' bill-HR 1068: Let Wall Street Pay for Wall Street's Bailout Act of 2009 was born out of taxpayer outrage. ..." (http://www.cnbc.com/id/29549922)
• Industry Execs Say Trading Tax Has No Legs - March 05, 2009 by Traders - The bill-HR 1068: Let Wall Street Pay for Wall Street's Bailout Act of 2009-is heavily flawed, lacks sufficient support on the Hill and has already failed ...

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  As noted by Traders on March 05, 2009, "The bill-HR 1068: Let Wall Street Pay for Wall Street's Bailout Act of 2009-is heavily flawed, lacks sufficient support on the Hill and has already failed ..." (http://www.tradersmagazine.com/news/103473-1.html)
• Strong, But Possibly Lethal, Medicine - March 05, 2009 by Dealing With Technology (subscription) - These members of Congress introduced a bill-HR 1068-to the US House of Representatives' Committee on Ways and Means back in February. ...

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  As noted by Dealing With Technology (subscription) on March 05, 2009, "These members of Congress introduced a bill-HR 1068-to the US House of Representatives' Committee on Ways and Means back in February. ..." (http://www.dealingwithtechnology.com/public/showPage.html?page=844694)