IV 
117TH CONGRESS 
1ST SESSION 
H. RES. 249 
Expressing the sense of the House of Representatives that the Congress 
should not impose a financial transaction tax on individuals or market 
intermediaries in connection with trades executed on the National Market 
System or alternative trading systems. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 17, 2021 
Mr. MCHENRY (for himself, Mr. HUIZENGA, Mr. LUCAS, Mr. POSEY, Mr. 
LUETKEMEYER, Mr. STIVERS, Mrs. WAGNER, Mr. BARR, Mr. WILLIAMS 
of Texas, Mr. HILL, Mr. EMMER, Mr. ZELDIN, Mr. LOUDERMILK, Mr. 
MOONEY, Mr. DAVIDSON, Mr. BUDD, Mr. KUSTOFF, Mr. HOLLINGS-
WORTH, Mr. GONZALEZ of Ohio, Mr. ROSE, Mr. STEIL, Mr. GOODEN of 
Texas, Mr. TIMMONS, and Mr. TAYLOR) submitted the following resolu-
tion; which was referred to the Committee on Ways and Means 
RESOLUTION 
Expressing the sense of the House of Representatives that 
the Congress should not impose a financial transaction 
tax on individuals or market intermediaries in connection 
with trades executed on the National Market System 
or alternative trading systems. 
Whereas a Federal financial transactions tax would be a new, 
additional tax on top of already-existing income taxes, 
capital gains taxes, and corporate taxes; 
Whereas a Federal financial transactions tax will hurt all 
market participants, including everyday investors who are 
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•HRES 249 IH 
saving for retirement or their child’s education, as well 
as everyday Americans’ pension funds and savings be-
cause a financial transactions tax is applied each time a 
transaction is conducted; 
Whereas studies have shown that a typical mutual fund in-
vestor would likely lose multiple years’ worth of savings 
to a 0.1 percent Federal financial transactions tax, and 
could lose decades worth of savings to a 0.5 percent fi-
nancial transactions tax; 
Whereas a Federal financial transactions tax will cause pen-
sion fund expenses to increase and their returns to de-
crease, exacerbating the current problems with under-
funded pensions and making it less attractive for govern-
ments and companies to offer pension plans; 
Whereas a Federal financial transactions tax will harm work-
er wages and destroy American jobs by increasing the 
cost of capital and reducing productivity; 
Whereas a Federal financial transactions tax would reduce li-
quidity in the capital markets; 
Whereas the Congressional Budget Office has found that a 
proposed financial transactions tax would ‘‘immediately 
lower the value of financial assets’’; and 
Whereas not only will a Federal financial transactions tax 
slow economic growth, other countries’ failures at imple-
menting a financial transactions tax demonstrate the tax 
will not raise expected revenue and will lead to an exit 
of trading activity for more favorable jurisdictions: Now, 
therefore, be it 
Resolved, That it is the sense of the House of Rep-
resentatives that the Congress should not impose a finan-
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cial transaction tax on individuals or market inter-
mediaries in connection with trades executed on the Na-
tional Market System or alternative trading systems. 
Æ 
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