Two U.S. lawmakers will introduce measures to impose a transaction tax on financial firms that resembles a proposal released by the European Union.Oh, you'll feel it alright. It'll never become law because it won't pass the House, but Dems will feel it when the GOP uses it as a campaign issue next year.
Senator Tom Harkin, an Iowa Democrat, and Representative Peter DeFazio, an Oregon Democrat, will introduce the bills tomorrow in their respective chambers. The bills will give the United States an increased role in the international debate over a transaction tax, which is likely to be discussed at the Group of 20 summit this week in Cannes, France.
“It’s a significant way to raise some needed revenue,” Harkin said in an interview today in Washington. “Quite frankly, I bet nobody would even feel it.”
Wednesday, November 02, 2011
Of course they will:
Posted by Rick Moore on 11/02/2011