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Wall Street Transaction Tax Gets Fresh Look After GameStop Frenzy

  • Industry groups moving against any financial transaction levy
  • Maxine Waters said after hearing she is considering such a tax
 Representative Maxine Waters said she is considering such a tax, which came up several times during testimony.

 Representative Maxine Waters said she is considering such a tax, which came up several times during testimony.

Photographer: Daniel Acker/Bloomberg
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Some Democrats in Washington are seizing on the recent frenetic trading in GameStop Corp. to push the financial transaction tax long favored by progressives, setting up a battle with Wall Street firms that bitterly oppose the idea.

After a House hearing Thursday to examine the GameStop issue, Representative Maxine Waters, the California Democrat who chairs the committee, said she is considering such a tax, which came up several times during testimony.