3.0.0 2306 2023-01-11T13:36:51Z 2023-01-11T13:36:51Z House HR 2017-05-03 115 [Congressional Record Volume 163, Number 76 (Wednesday, May 3, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. DeFAZIO:H.R. 2306.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 18 (relating to the power tomake all laws necessary and proper for carrying out thepowers vested in Congress)[Page H3324]]]> hswm00 Ways and Means Committee House Standing Referred to 2017-05-03T14:01:10Z 2017-05-03 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-05-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-05-03 Introduced in House IntroReferral 1000 9 Library of Congress D000191 Rep. DeFazio, Peter A. [D-OR-4] PETER DEFAZIO D OR A. 4 N B000574 Rep. Blumenauer, Earl [D-OR-3] EARL BLUMENAUER D OR 3 2017-05-03 True C001090 Rep. Cartwright, Matt [D-PA-17] Matt Cartwright D PA 17 2017-05-03 True C000714 Rep. Conyers, John, Jr. [D-MI-13] JOHN CONYERS D MI 13 2017-05-03 True C001084 Rep. Cicilline, David N. [D-RI-1] David Cicilline D RI N. 1 2017-05-03 True G000559 Rep. Garamendi, John [D-CA-3] John Garamendi D CA 3 2017-05-03 True G000551 Rep. Grijalva, Raúl M. [D-AZ-3] Raúl Grijalva D AZ M. 3 2017-05-03 True K000389 Rep. Khanna, Ro [D-CA-17] Ro Khanna D CA 17 2017-05-03 True L000579 Rep. Lowenthal, Alan S. [D-CA-47] Alan Lowenthal D CA S. 47 2017-05-03 True N000179 Rep. Napolitano, Grace F. [D-CA-32] GRACE NAPOLITANO D CA F. 32 2017-05-03 True N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2017-05-03 True P000607 Rep. Pocan, Mark [D-WI-2] Mark Pocan D WI 2 2017-05-03 True S001168 Rep. Sarbanes, John P. [D-MD-3] John Sarbanes D MD P. 3 2017-05-03 True S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2017-05-03 True S000185 Rep. Scott, Robert C. "Bobby" [D-VA-3] Robert Scott D VA C. "Bobby" 3 2017-05-03 True S001170 Rep. Shea-Porter, Carol [D-NH-1] Carol Shea-Porter D NH 1 2017-05-03 True S000480 Rep. Slaughter, Louise McIntosh [D-NY-25] LOUISE SLAUGHTER D NY M. 25 2017-05-03 True M000312 Rep. McGovern, James P. [D-MA-2] JAMES MCGOVERN D MA P. 2 2017-05-03 True R000606 Rep. Raskin, Jamie [D-MD-8] Jamie Raskin D MD 8 2017-05-03 True P000597 Rep. Pingree, Chellie [D-ME-1] Chellie Pingree D ME 1 2017-06-13 False D000216 Rep. DeLauro, Rosa L. [D-CT-3] ROSA DELAURO D CT 3 2017-09-07 False W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2017-09-12 False H001038 Rep. Higgins, Brian [D-NY-26] Brian Higgins D NY 26 2017-10-12 False J000288 Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] Henry Johnson D GA C. "Hank" 4 2017-11-08 False B001227 Rep. Brady, Robert A. [D-PA-1] ROBERT BRADY D PA A. 1 2018-06-08 False N000127 Rep. Nolan, Richard M. [D-MN-8] RICHARD NOLAN D MN 8 2018-06-13 False E000215 Rep. Eshoo, Anna G. [D-CA-18] ANNA ESHOO D CA G. 18 2018-07-11 False B001278 Rep. Bonamici, Suzanne [D-OR-1] Suzanne Bonamici D OR 1 2018-10-23 False Taxation Bank accounts, deposits, capital Commodities markets Disability and paralysis Employee benefits and pensions Financial services and investments Foreign and international corporations Health care costs and insurance Higher education Income tax credits Income tax deferral Sales and excise taxes Securities Student aid and college costs Tax administration and collection, taxpayers Taxation of foreign income Taxation 00 2017-05-03 Introduced in House 2017-05-10T16:30:27Z Putting Main Street FIRST Act or the Putting Main Street FIRST: Finishing Irresponsible Reckless Speculative Trading Act

This bill amends the Internal Revenue Code to impose a .03% excise tax on the purchase of a security if: (1) such purchase occurs on, or is subject to the rules of, a qualified board or exchange located in the United States; or (2) the purchaser or seller is a U.S. person.

A "security" includes: (1) any share of stock in a corporation, (2) any partnership or beneficial ownership interest in a partnership or trust; (3) any note, bond, debenture, or other evidence of indebtedness; and (4) derivatives that meet specified criteria.

The tax applies to transactions with respect to a derivative if: (1) the derivative is traded on, or is subject to the rules of, a qualified board or exchange located in the United States; or (2) any party with rights under the derivative is a U.S. person.

The bill exempts from such tax: (1) initial issues of securities; and (2) any note, bond, debenture, or other evidence of indebtedness which is traded on or is subject to the rules of, a qualified board or exchange located in the United States, and has a fixed maturity of not more than 100 days.

The tax applies to transactions by a controlled foreign corporation and must be paid by its U.S. shareholders.

The bill allows an offset against such tax for contributions to certain tax-favored savings accounts.

]]> Putting Main Street FIRST: Finishing Irresponsible Reckless Speculative Trading Act Display Title Putting Main Street FIRST: Finishing Irresponsible Reckless Speculative Trading Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to impose a tax on certain trading transactions. Introduced in House IH Short Titles as Introduced Putting Main Street FIRST: Finishing Irresponsible Reckless Speculative Trading Act Short Titles as Introduced Putting Main Street FIRST Act Introduced in House 2017-05-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr2306ih/xml/BILLS-115hr2306ih.xml 2017-05-03 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.