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options tax
DeFazio chair highways transit panel says tax on oil futures can fund $140 billion transport funding gap
Posted on Thu, 2009-06-25 22:44
US Rep Pete DeFazio issued a statement today claiming that the solution to a funding gap in the proposed $450 billion six year highway and transit program is a tax on oil futures trades. DeFazio proposes a 0.02% tax on every oil futures contract and a 0.5% tax on futures option contracts. He says this would raise $190b over the six years of the STAA reauthorization, "more than enough to fill the gap." That's $32b/year.
