The Wall Street Tax Act of 2025 would impose a new federal tax on financial trading transactions, starting at 0.02 percent in 2026 and gradually increasing to 0.1 percent by 2030. The tax applies to purchases of stocks, bonds, and derivatives (complex financial contracts) that occur on U.S. exchanges or involve U.S. persons or entities. The tax does not apply to initial security offerings, certain short-term debt instruments, or regular business hedging activities. Exchanges, brokers, and individual traders would be responsible for paying the tax depending on the transaction type, and the U.S. Treasury and Securities and Exchange Commission would work together to administer and enforce the new rules. The bill takes effect on January 1, 2026.
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