Most trades of stocks and many derivatives would carry a new federal tax. The rate would start at 0.02% in 2026 and rise to 0.1% after 2029. Exchanges, brokers, and some U.S. investors in foreign companies would face new payment and reporting duties.
Modern Action explains legislation in plain English, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.
Wall Street Tax Act of 2025 is a Senate bill in committee. The latest recorded action: Read twice and referred to the Committee on Finance.
Latest action on S. 2127: Read twice and referred to the Committee on Finance.
Who this affects: This bill mainly affects people and firms that trade financial products, especially frequent traders, large investors, brokers, exchanges, and some U.S. shareholders of foreign corporations. Small, occasional investors may see only small direct costs because the rate is low. But costs could add up for large or frequent trades.
Why this matters: This bill could make trading cost a little more each time it happens. That small cost may matter a lot for firms that trade many times a day or move very large sums. It could raise federal money from financial markets, though the bill does not say how much. It could also change where people trade, how often they trade, and how financial products are built.
You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.
Keep acting on Modern Action
Compare the broader issue and related bills without leaving Modern Action.
