Congressman Doggett Introduces Wall Street Bankers Bonus Tax Act

Statement

Every American knows about the speed limit. We proposed a Wall Street bankers tax for those exceeding the greed limit. In advance of President Obama's announcement of a fee on the nation's biggest banks, I announced a separate initiative that applies a 50-percent tax on Wall Street bank bonuses in excess of $50,000 paid by TARP-recipient firms: The Wall Street Bonus Tax Act. This measure would not apply to local community banks, since they did not cause the financial crisis.

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