Briefing On Financial Transaction Taxes

Sponsored by Senator Tom Harkin, Representative Peter DeFazio, Congressional Populist Caucus

Friday, October 21 st 10:30am – 12:00pm

U.S. Capitol Building S-115

Presented by:

Americans for Financial Reform, AFL-CIO, Institute for Policy Studies, The Center for Media and Democracy, and The Center for Economic and Policy Research

Featuring…

John Fullerton – Former Managing Director, J.P. Morgan Co. and Founder and President of the Capital Institute

Frédéric Doré – Minister Counselor, Deputy Chief of Mission at the French Embassy to the United States

Damon Silvers – Director of Policy and Special Counsel, AFL-CIO

Dean Baker – Co-Director, Center for Economic and Policy Research

Moderator — Lisa Donner – Executive Director, Americans for Financial Reform

A small tax on financial transactions would raise tens of billions of dollars a year and curb dangerous high speed trading. Support for a transaction tax is growing in the US and around the world. The European Union recently proposed a tax of 10 cents per $100 of securities transactions, and 10 cents per $1,000 of derivatives transactions. France and Germany have already endorsed this proposal. The European Union forecasts that this tiny tax will raise some $70 billion annually.

Find out more about this new approach to raising revenues and stopping destabilizing and unproductive financial speculation.

Supporting Documents:

Read our letter to the super committee advocating for a financial transaction tax here.

Read John Fullerton’s, The Capital Institute’s fact sheet on financial transaction tax here.