WASHINGTON (Reuters) - Two congressional Democrats said on Tuesday they will revive a bill to tax financial transactions after 11 euro zone countries won approval for such a tax.
The two liberal Democrats, Senator Tom Harkin and Representative Peter DeFazio, said they would re-introduce their proposal to add a 3 cents tax on each $100 in financial transactions, which according to the congressional Joint Tax Committee could raise $352 billion over a decade.
The European countries won clearance earlier on Tuesday for the tax, aimed at shifting more responsibility for the region's fiscal crisis onto banks. Critics say the tax could drive business out of Europe.
The congressmen have introduced the idea before, but it did not move forward as President Barack Obama's Treasury Secretary, Timothy Geithner, has said the United States opposes the levy.
(Reporting by Kim Dixon; Editing by Leslie Gevirtz)
Concealed Carrier Shoots Armed Robber In Detroit... Again. Still. - Bearing Arms - Detroit, Guns Saving Lives, Michigan
CNN: Aide's Fifth Amendment declaration sure makes the Hillary server fiasco look criminal, huh?
'Gut wrenching': Deputy Goforth's son wears superhero shirt to funeral he planned to wear with his dad
Political Calculations - What Is Your U.S. Income Percentile Ranking?
Jonah Goldberg - An Arsenal Of Smoking Guns In Clinton Email Scandal
The Koran’s Contents—Not Carbon Dating—Cast More Doubt on Islam’s Origins | Human Events
An Unserious Candidate for an Unserious Country | RedState