The New Plan To Impose An Extra Tax On Wall Street Hinges One One Big Question

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Cornelius Hurley, School of Law, Center for Finance, Law & Policy

Yesterday, Max Baucus (D-MT) and Dave Camp (R-MI) introduced a tax reform bill that would force a new asset tax on big Wall Street banks, and naturally Wall Street isn’t having it…

Expert quote:

“Although it is highly unlikely that this new tax will be enacted, one can easily see H.R. 2266, the Subsidy Reserve Plan being a compromise result, especially if the GAO subsidy study produces subsidy estimates in the ballpark of Chairman Camp’s.”

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