A8 · Pillar A · Revenue Optimization
Financial transactions fee (limited scope)
A modest federal fee (0.02–0.05 percent) on equity and derivative transactions, with carve-outs for retirement accounts, primary-residence transactions, and small individual-investor activity. Calibrated to high-frequency and large-block trading rather than long-horizon retail investment.
- 10-year fiscal
- +$600BRevenue
- Implementation
- Years 3–5
- Middle class
- Neutral
- Planetary
- Neutral
$400B–$800B · Low-Medium confidence
Retirement-account and small-investor carve-outs are built in.
No material climate effect.
Global precedent
The United Kingdom’s stamp duty on share transactions generates about £4 billion a year. Eleven EU member states have negotiated a coordinated FTT framework.
Lead mechanism
Treasury and SEC.
Bipartisan framing
Conservative case
A user fee on financial-market infrastructure.
Progressive case
A contribution from a sector that has grown faster than the broader economy.
Figures in this framework are illustrative directional estimates derived from publicly available data and conventional Congressional Budget Office budget-window logic. They are not official CBO scores. Any provision adopted from this framework would require formal CBO scoring before legislative consideration. This document is a policy white paper, not an introduced bill.