Trader Tax?

DB · Mar 16, 2009

Has anyone heard of any progress/action re HR 1068?

stevegee58 · Mar 16, 2009

You can track the bill's progress here

It has a ways to go.

DB · Mar 16, 2009

I've been tracking it there, but wondering if anyone knew any more than what was there. Thanks for that info., however.

stevegee58 · Mar 16, 2009

As it says on the web site:

"This bill is in the first step in the legislative process. Introduced bills and resolutions first go to committees that deliberate, investigate, and revise them before they go to general debate. The majority of bills and resolutions never make it out of committee."

It'll probably be in the Ways and Means Committee queue for months before they even hear it.

DataCruncher · Mar 16, 2009

maybe they'll pass this instead

http://www.govtrack.us/congress/bill.xpd?bill=h110-7123

DB · Mar 16, 2009

Now there's a positive spin. I've read that DeFazio has proposed the Trader Tax before and always shut down by Pelosi. Also, Schumer shouldn't like this tax as it will likely hurt NY revenues...

Rex84 · Mar 16, 2009

Quote from DataCruncher:

maybe they'll pass this instead

http://www.govtrack.us/congress/bill.xpd?bill=h110-7123

That bill is from the 110th congress, it is outdated

As someone who used to work in congress, I can tell you, I highly doubt it will pass. I don't think this bill has a senate counterpart (and I have never heard of a bill in modern history passing without it being introduced in both chambers), and it only has 9 cosponsors, and they consist of people like Lynn Woolsey and Barbara Lee.

DB · Mar 16, 2009

Thanks so much for your comment. I don't know, but it seems like the market community would come unglued over something like this. Plus, I hear DeFazio is a real nutjob.