Defazio transaction tax attracts interest on Capitol Hill

Defazio transaction tax attracts interest on Capitol Hill

The Oregon representative has proposed levying a tax on the financial trading markets.

Among other things, DeFazio was given an appearance on CNBC last week to press his case.

"Seems only when someone pulls back the curtain do we talk about what we need to do," DeFazio said in his appearance.  He argued that Wall Street generally figures out how to get around new regulations but that a "very, very miniscule transaction tax" would help drive a "lot of this volatility and a lot of this useless high-speed trading out of the market."

 

Read more at Oregonlive.