Financial Transaction Tax: European implementation and American imitation?

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Momentum is building to reform the US tax system and address the nation’s fiscal challenges. However, options to raise revenue to reduce the deficit and offset a potential decrease in corporate and individual tax rates are scarce. In this environment, there has been renewed interest in tax policy proposals previously considered unpalatable. One such proposal is a financial transaction tax (FTT). The FTT has been catching on internationally, increasing the risk of policy contagion in the US.

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