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Published: February 2013

Curbing dangerous Wall Street practices

“The Wall Street Trading and Speculators Tax Act” calls for a tax of 0.03 percent on trades of stocks, bonds, futures, options, swaps, credit default swaps and other complex financial instruments.

Consumer Action joins the AFR and coalition members to urge Congress to support the Wall Street Trading and Speculators Tax Act. The tax would help level the playing field so that finance pays something closer to its fair share of taxes; discourage and excessive Wall Street behavior, and raise hundreds of billions of dollars in revenue.

The tax can help address budget problems while also helping push the financial markets away from risky practices and short-termism, and back toward their core mission of providing capital to the real economy.

Lead Organization

Americans for Financial Reform (AFR)

Other Organizations

AFL-CIO | Alliance for a Just Society | American Family Voices | American Federation of Government Employees | American Federation of State, County and Municipal Employees (AFSCME) | American Federation of Teachers | Americans for Financial Reform | Americans for Tax Fairness | Birmingham Faith in Action (Birmingham, AL) | Campaign for a Fair Settlement | Campaign for America's Future. | Capital Institute | Catholics United | Center for Effective Government (formerly OMB Watch) | Center for Media and Democracy | Center of Concern | Chicago Political Economy Group | Communications Workers of America | Community Action Partnership | Conference of Major Superiors of Men | Consumer Action | Consumers Union | CREDO | CtW Investment Group | Demos | Friends of the Earth | Health Care for America Now | International Brotherhood of the Teamsters | International Union, United Automobile, Aerospace and Agricultural Implement Workers of America, UAW | Jobs First 2012 | Jobs with Justice | Leadership Center for the Common Good | Liberty Tree | Main Street Alliance | Margert Community Corporation | Maryknoll Office for Global Concerns | MFY Legal Services | MoveOn | National Education Association | National Women’s Law Center | Oil Change International | PICO National Network | Public Citizen | Rebuild the Dream | Responsible Wealth | Service Eemployees International Union (SEIU) | Task Force on Jobs Creation | Tax Justice Network USA | The Center for Economic Integrity, Tucson AZ | The Center for Media and Democracy | The Coalition of Religious Communities in Salt Lake City, Utah | The Government Accountability Project | The Institute for College Access & Success and its Project on Student Debt | The Leadership Conference on Civil and Human Rights | U.S. Economy/Smart Globalization Initiative at the New America Foundation | U.S. PIRG | United for a Fair Economy | United Steelworkers | USAction | Wealth for the Common Good | Working America

More Information

For more information, please visit AFR's website.

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Curbing dangerous Wall Street practices   (HarkinDeFazioLocalandNationalSignOn.pdf)