Tax on Wall Street Speculation Act
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Tax on Wall Street Speculation Act
This bill imposes an excise tax on the transfer of ownership in certain securities (covered transactions), including any share of stock in a corporation; any partnership or beneficial interest in a partnership or trust; any note, bond, debenture, or other evidence of indebtedness (excluding tax-exempt municipal bonds); and derivative financial instruments or digital assets.
The bill includes exceptions for initial issues, certain traded short-term indebtedness, and securities lending arrangements.
The bill also (1) imposes a penalty on taxpayers who fail to include a covered transaction on their tax return or information statement, and (2) allows an individual taxpayer whose modified adjusted gross income does not exceed $50,000 ($75,000 for married taxpayers filing joint returns) a tax credit for the amount of tax paid on covered transactions.
Read twice and referred to the Committee on Finance.
- Introduced in Senate Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). S. 1990: Tax on Wall Street Speculation Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-1990/
"S. 1990: Tax on Wall Street Speculation Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-1990/.
S. 1990, 118th Cong. (2026), https://openamerica.io/bill/118-S-1990/.
[S. 1990: Tax on Wall Street Speculation Act](https://openamerica.io/bill/118-S-1990/)