Hillary Clinton Comes out in Support of Financial Transaction Tax

According to a recent Financial Times article, Presidential Nominee Hillary Clinton’s economic policy advisors are developing a proposal for a new financial transaction tax (FTT). This news follows the recent inclusion of a general call for an FTT in the Democratic Party platform. An early outline of Clinton’s plan suggests that it would levy a fee on canceled orders in an attempt to curb practices by high frequency traders.

In contrast, more liberal members of the Democratic Party have called for an FTT which would encompass a much broader set of transactions. In the past, Sen. Bernie Sanders has sponsored legislation which "specifies a 50 basis point tax on equity trades, a 10bp tax on bond trades, and a one-half basis point tax on derivatives transactions."

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