PSC is working with the Strong Economy for All coalition to reinstate New York’s Stock Transfer Tax. It’s a way to ensure that the brokers and large banks that benefit most from the new federal tax law pay their fair share in New York. The State currently rebates $14 billion a year in Stock Transfer Taxes to brokers. A negligible tax on high-dollar and high-frequency trades would mean $5.5 billion per year for affordable housing, healthcare and quality Kindergarten - CUNY public education. A half percent tax on stock buybacks could raise $2 billion a year from companies that use their federal #GOPTAXSCAM windfalls to buy back stock and enrich investors.
Join the PSC and coalition partners this Friday, March 9 at 1 PM for a demonstration and press conference calling for the Stock Transfer Tax. The action will take place outside the New York Stock Exchange at the intersection of Broad and Wall Streets. We’ll be shaming the corporations that are using their Trump Tax Windfall to enrich investors rather than grow the economy, and demanding that Albany take action.