Sanders and Lee introduce tax on Wall Street greed

WASHINGTON, D.C. – Senator Bernie Sanders (I-Vt.) and Rep. Barbara Lee (D-Calif.) today introduced the Inclusive Prosperity Act, which is designed to tax a fraction of a percentage on the trades of stocks, bonds and derivatives.

Funds from this Robin Hood Tax, which could raise upwards of $2.4 trillion, could be used to finance new social services, help address climate change and stabilize the financial sector.

In response to the bill’s introduction, Erich Pica, President of Friends of the Earth, issued the following statement:

We need the wealthy in this country to pay their fair share. A small tax on stock market speculation could generate billions to help slow the climate crisis and help our communities. Senator Sanders and Rep. Lee’s bill is positive step toward holding traders accountable while ensuring health and prosperity for all.

Communications contact: Patrick Davis, (202) 222-0744, pdavis@foe.org

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