Democrat’s Bill
It’s unclear how much her proposed tax would raise. “It’s much more designed to address a particular market distortion than raise revenue,” said Bernstein, of the CBPP.
A broader proposal from a House Democrat to tax financial transactions, due to be unveiled Wednesday, would raise as much as $417 billion over a decade, according to a news release from Representative Peter DeFazio of Oregon. DeFazio proposes to levy a 0.03 percent tax rate “on most financial trades,” according to the release. The proposal largely mirrors a bill DeFazio introduced in 2009 that never came up for a vote in the tax-writing House Ways and Means Committee.
Clinton campaign spokesman Tyrone Gayle declined to comment on DeFazio’s planned legislation. “To my knowledge, Representative DeFazio and Secretary Clinton haven’t discussed this bill,” said Beth Schoenbach, a spokeswoman for the congressman.