Home - ILGP Endorses Financial Transaction Tax Bill (SB1970)

ILGP Endorses Financial Transaction Tax Bill (SB1970)

2017-03-19: The Illinois Green Party Coordinating Committee has endorsed Illinois General Assembly Senate Bill SB1970, a new version of the proposed "LaSalle Street Tax." This would place a tax of $1 or $2 on trades of options, futures, and other derivatives (average contract value: aprox. $285,000 per trade) at the Chicago Mercantile Exchange, Board Options Exchange, and Board of Trade.

If enacted, the tax would raise an estimated $12 billion a year, which would eliminate Illinois' structural deficit and allow us to adequately fund our schools, higher education and vital services, while paying down the state's public pension debt.