Wall Street Tax Act of 2025

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 4035 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 4035 To amend the Internal Revenue Code of 1986 to impose a tax on certain trading transactions. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 17, 2025 Ms. Hoyle of Oregon (for herself, Mr. Smith of Washington, Ms. Jayapal, Mr. McGovern, Ms. Pingree, Ms. Schakowsky, Ms. Tlaib, and Mrs. Watson Coleman) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to impose a tax on certain trading transactions. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Wall Street Tax Act of 2025''. SEC. 2. TRANSACTION TAX. (a) In General.--Chapter 36 of the Internal Revenue Code of 1986 is amended by inserting after subchapter B the following new subchapter: ``Subchapter C--Tax on Trading Transactions ``Sec. 4475. Tax on trading transactions. ``Sec. 4476. Derivative defined. ``SEC. 4475. TAX ON TRADING TRANSACTIONS. ``(a) Imposition of Tax.--There is hereby imposed a tax on each covered transaction with respect to any security. ``(b) Rate of Tax.-- ``(1) In general.--The tax imposed under subsection (a) with respect to any covered transaction shall be the applicable percentage of the specified base amount with respect to such covered transaction. ``(2) Applicable percentage.--For purposes of this subsection, the applicable percentage shall be-- ``(A) in the case of a covered transaction after December 31, 2025, and before January 1, 2027, 0.02 percent, ``(B) in the case of a covered transaction after December 31, 2026, and before January 1, 2028, 0.04 percent, ``(C) in the case of a covered transactio