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S2491-118

Introduced

To amend the Internal Revenue Code of 1986 to impose a tax on certain trading transactions.

118th Congress Introduced Jul 25, 2023

Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.

Summary

What This Bill Does

This bill, To amend the Internal Revenue Code of 1986 to impose a tax on certain trading transactions., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Foreign Policy, Environment.

Who Benefits and How

financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.

Who Bears the Burden and How

federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.

Key Provisions

  • Section H00EEFA75CED64DC69772549A8B3F8E58: 1. Short title This Act may be cited as the Wall Street Tax Act of 2023.
  • Section H8912A5D8FAFE4208914F17319CB12159: 2. Transaction tax Chapter 36 of the Internal Revenue Code of 1986 is amended by inserting after subchapter B the following new subchapter: CTax on Trading...
  • Section HCA46F683FE20480EBDF447B7C8E8D1C0: 4475. Tax on trading transactions There is hereby imposed a tax on each covered transaction with respect to any security. The tax imposed under subsection (a)...
  • Section HF87FF96EEF69464E9CBD26737B057D62: 4476. Derivative defined For purposes of this subchapter, except as otherwise provided in this section, the term derivative means any contract (including any...

Evidence Chain:

This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.

At a Glance

What This Bill Does

This bill, To amend the Internal Revenue Code of 1986 to impose a tax on certain trading transactions., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.

Key Policy Areas

Finance, Foreign Policy, Environment

Primary Purpose

This bill, To amend the Internal Revenue Code of 1986 to impose a tax on certain trading transactions., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.

Policy Domains

Finance Foreign Policy Environment

Whole bill

Identified Gains
  • financial institutions, investors, and borrowers
Model: codex-gpt-5 | Version: bill_summary_v2 | Source: is
financial institutions, investors, and borrowers: , ,
Identified Costs
  • federal implementing agencies
  • financial institutions, investors, and borrowers
Model: codex-gpt-5 | Version: bill_summary_v2 | Source: is
federal implementing agencies: , ,
financial institutions, investors, and borrowers: , ,

Sponsors

Brian Schatz

Brian Schatz

D-HI | Primary Sponsor

5 cosponsors

Legislative Progress

Introduced
Introduced Committee Passed
Jul 25, 2023

Mr. Schatz (for himself, Mr. Van Hollen, Ms. Warren, Mr. …

Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →

Bill Structure & Actor Mappings

Who is "The Secretary" in each section?

Domains
Finance Foreign Policy Environment
Actor Mappings
"the_secretary"
→ The Secretary identified in the operative section
"the_commission"
→ The commission identified in the operative section

We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.

Learn more about our methodology