3.0.0 1516 2022-11-01T17:03:26Z 2022-11-01T17:03:26Z House HR 2019-03-05 116 [Congressional Record Volume 165, Number 39 (Tuesday, March 5, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. DeFAZIO:H.R. 1516.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 H2369]]]> hswm00 Ways and Means Committee House Standing Referred to 2019-03-05T17:06:40Z Wall Street Tax Act of 2019 116 647 S 2019-03-05 Read twice and referred to the Committee on Finance. Identical bill CRS WPA Act 116 7477 HR 2020-07-01 Referred to the Subcommittee on Trade. Related bill CRS 2019-03-05 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-03-05 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-03-05 Introduced in House IntroReferral 1000 9 Library of Congress D000191 Rep. DeFazio, Peter A. [D-OR-4] PETER DEFAZIO D OR A. 4 N C001084 Rep. Cicilline, David N. [D-RI-1] David Cicilline D RI N. 1 2019-03-05 True D000216 Rep. DeLauro, Rosa L. [D-CT-3] ROSA DELAURO D CT 3 2019-03-05 True G000551 Rep. Grijalva, Raúl M. [D-AZ-3] Raúl Grijalva D AZ M. 3 2019-03-05 True J000298 Rep. Jayapal, Pramila [D-WA-7] Pramila Jayapal D WA 7 2019-03-05 True K000389 Rep. Khanna, Ro [D-CA-17] Ro Khanna D CA 17 2019-03-05 True L000579 Rep. Lowenthal, Alan S. [D-CA-47] Alan Lowenthal D CA S. 47 2019-03-05 True M000312 Rep. McGovern, James P. [D-MA-2] JAMES MCGOVERN D MA P. 2 2019-03-05 True N000179 Rep. Napolitano, Grace F. [D-CA-32] GRACE NAPOLITANO D CA F. 32 2019-03-05 True N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2019-03-05 True O000172 Rep. Ocasio-Cortez, Alexandria [D-NY-14] Alexandria Ocasio-Cortez D NY 14 2019-03-05 True P000597 Rep. Pingree, Chellie [D-ME-1] Chellie Pingree D ME 1 2019-03-05 True P000607 Rep. Pocan, Mark [D-WI-2] Mark Pocan D WI 2 2019-03-05 True S001168 Rep. Sarbanes, John P. [D-MD-3] John Sarbanes D MD P. 3 2019-03-05 True S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2019-03-05 True W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2019-03-05 True C001068 Rep. Cohen, Steve [D-TN-9] Steve Cohen D TN 9 2019-03-05 True G000586 Rep. Garcia, Jesus G. "Chuy" [D-IL-4] Jesus Garcia D IL G. 4 2019-03-06 False G000559 Rep. Garamendi, John [D-CA-3] John Garamendi D CA 3 2019-03-06 False H001080 Rep. Haaland, Debra A. [D-NM-1] Debra Haaland D NM A. 1 2019-03-26 False T000472 Rep. Takano, Mark [D-CA-41] Mark Takano D CA 41 2019-03-26 False S000510 Rep. Smith, Adam [D-WA-9] ADAM SMITH D WA 9 2019-04-08 False H000324 Rep. Hastings, Alcee L. [D-FL-20] ALCEE HASTINGS D FL L. 20 2019-04-29 False L000397 Rep. Lofgren, Zoe [D-CA-19] ZOE LOFGREN D CA 19 2019-06-03 False T000481 Rep. Tlaib, Rashida [D-MI-13] Rashida Tlaib D MI 13 2019-09-11 False S000248 Rep. Serrano, Jose E. [D-NY-15] JOSE SERRANO D NY E. 15 2019-09-18 False R000606 Rep. Raskin, Jamie [D-MD-8] Jamie Raskin D MD 8 2019-10-04 False B000574 Rep. Blumenauer, Earl [D-OR-3] EARL BLUMENAUER D OR 3 2019-11-05 False P000617 Rep. Pressley, Ayanna [D-MA-7] Ayanna Pressley D MA 7 2020-02-28 False G000571 Rep. Gabbard, Tulsi [D-HI-2] Tulsi Gabbard D HI 2 2020-03-04 False R000577 Rep. Ryan, Tim [D-OH-13] TIM RYAN D OH 13 2020-05-12 False Taxation Financial services and investments Foreign and international corporations Sales and excise taxes Securities Tax administration and collection, taxpayers Taxation 00 2019-03-05 Introduced in House 2019-10-22T14:35:51Z Wall Street Tax Act of 2019

This bill imposes a 0.1% excise tax on certain financial transactions such as the purchase of stocks, bonds, and derivatives.

The tax applies to 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

  • a share of stock in a corporation;
  • a partnership or beneficial ownership interest in a partnership or trust;
  • a note, bond, debenture, or other evidence of indebtedness; and
  • 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.

]]> Wall Street Tax Act of 2019 Display Title Wall Street Tax Act of 2019 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 Title(s) as Introduced Wall Street Tax Act of 2019 Introduced in House IH Introduced in House 2019-03-05T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr1516ih/xml/BILLS-116hr1516ih.xml 2019-03-05 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.