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Wall Street Tax Sparks Messaging War from Business, Progressives

Sept. 16, 2019, 4:34 PM

Progressive advocates and a business group are laying the groundwork for battle over what has become a favorite new tax among Democrats running for president: a levy on Wall Street trades.

The Republican-friendly U.S. Chamber of Commerce and Public Citizen, an advocacy group for progressive causes, came to divergent conclusions Monday about how a so-called financial transaction tax would affect middle-class savers. Voters’ relative unfamiliarity with the tax gives both sides room to shape public opinion about a levy that hasn’t been part of the tax code since 1965 but is becoming a common refrain in the 2020 presidential Democratic ...