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April 19, 2013

Rep. Ellison Reintroduces the Inclusive Prosperity Act

U.S. Representative Keith Ellison (D–Minnesota) has reintroduced a bill that would add a small financial transactions tax (a.k.a. Robin Hood Tax) on high-volume, high-speed trading on Wall Street, The Nation reports. The Inclusive Prosperity Act would raise about $1 trillion in revenue over 10 years. The tax would fund social needs, including jobs, education, climate change, health care and the fight against HIV/AIDS. Congress imposed a similar tax until 1966. About 40 countries worldwide have such a tax.

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