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Democratic platform draft includes financial transactions tax, defense of DOL fiduciary rule

July 8, 2016

 

 


Democratic platform draft includes financial transactions tax, defense of DOL fiduciary rule

The party is set to endorse a levy on securities sales when it meets at its national convention in Philadelphia later this month

Jul 6, 2016 @ 1:47 pm | By Mark Schoeff Jr. | Investment News

Democrats are set to endorse a levy on securities sales when they meet at their party convention later this month.

The draft party platform includes an endorsement of a financial transactions tax, a policy that it says will help establish a financial system that “works for all Americans, not just a handful of billionaires.”

“We support a financial transactions tax on Wall Street to curb excessive speculation and high-frequency trading, which has threatened financial markets,” the draft document states. “We acknowledge that there is room within our party for a diversity of views on a broader financial transactions tax.”

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