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U.S. House Financial Services Committee Ranking Member Patrick
McHenry (R-NC) and Subcommittee on Investor Protection,
Entrepreneurship and Capital Markets Ranking Member Bill Huizenga
(R-MI) reintroduced the Protecting
Retirement Savers and Everyday Investors Act, a bill that
would block states from imposing financial transaction taxes
( FTTs ) on, among other securities industry
participants, stock exchanges and broker-dealers.
Certain states have proposed taxes on securities transactions
(see previous coverage on New York State s
proposed Stock Transfer Tax), and analysts have commented that
taxes imposed in one state would apply to investors in other states