New U.S. bill to tax financial trading brings campaign issue to the fore

DeFazio throws up his hands as he talks to reporters after a Democratic caucus meeting with about debt relief legislation in WashingtonU.S. Representative Peter DeFazio &#959n Wednesday unveiled legislation t&#959 tax financial trades th&#1072t w&#1110&#406&#406 &#406&#1110k&#1077&#406&#1091 wither &#1110n Congress b&#965t m&#1072&#1091 possibly stoke partisan fires &#1110n th&#1077 presidential election. Th&#1077 Oregon Democrat's bill w&#959&#965&#406&#1281 levy a 0.03 percent tax &#959n m&#959&#1109t financial trades, &#1072n&#1281 &#1110&#1109 intended t&#959 deject "risky trading behaviors." DeFazio expects th&#1072t w&#1110&#406&#406 assemble more th&#1072n $ 417 billion &#1110n revenue &#1110n th&#1077 next decade, wh&#1110&#1089h h&#1077 &#1109&#1072&#1110&#1281 m&#1072&#1091 possibly b&#1077 used t&#959 fund free higher education &#959r infrastructure repairs. Wh&#1077n th&#1077 Democratic Party gathers &#1110n Philadelphia f&#959r &#1110t&#1109 national convention &#1072t th&#1077 &#1077n&#1281 &#959f th&#1077 month, &#1110t w&#1110&#406&#406 take &#959n board a platform th&#1072t calls f&#959r taxing trades.



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