Bernie Sanders Revives Plan to Tax Stock, Bond and Derivatives Trades
- Democratic candidate says new revenue could aid U.S. students
- Proposal comes as Vermont senator seeks contrasts with Biden
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Democratic presidential candidate Bernie Sanders introduced legislation that would impose a tax on trades of all stocks, bonds and derivatives in the U.S., a move he says would help curb Wall Street speculation and help finance his campaign promise to provide tuition-free college and cut student debt.
Sanders has been promoting a financial transactions tax since his run for the Democratic nomination in 2016. The plan he offered Wednesday would apply a 0.5% tax rate for stock trades, a 0.1% rate for bond trades, and 0.005% for derivatives transactions.