# 119-hr-4035: Wall Street Tax Act of 2025

119-hr-4035, Wall Street Tax Act of 2025, is a 119th Congress bill sponsored by Rep. Hoyle, Val T. [D-OR-4] (D-OR); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-hr-4035
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-4035
- Congress: 119
- Title: Wall Street Tax Act of 2025
- Status: introduced
- Introduced: 2025-06-17
- Sponsor: Rep. Hoyle, Val T. [D-OR-4] (D-OR)
- Cosponsors: 9
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**A national tax on trading in securities and derivatives** would be created to levy an excise-style charge on each covered transaction and apply a progressive rate schedule over time. The bill also builds new reporting, collection, and enforcement rules tied to exchanges, brokers, and U.S. tax authorities in coordination with securities regulators.

## Cosponsors (9)

- Rep. Smith, Adam [D-WA-9] (D-WA), 2025-06-17T00:00:00.000Z
- Rep. Jayapal, Pramila [D-WA-7] (D-WA), 2025-06-17T00:00:00.000Z
- Rep. McGovern, James P. [D-MA-2] (D-MA), 2025-06-17T00:00:00.000Z
- Rep. Pingree, Chellie [D-ME-1] (D-ME), 2025-06-17T00:00:00.000Z
- Rep. Schakowsky, Janice D. [D-IL-9] (D-IL), 2025-06-17T00:00:00.000Z
- Rep. Tlaib, Rashida [D-MI-12] (D-MI), 2025-06-17T00:00:00.000Z
- Rep. Watson Coleman, Bonnie [D-NJ-12] (D-NJ), 2025-06-17T00:00:00.000Z
- Rep. Frost, Maxwell [D-FL-10] (D-FL), 2025-06-26T00:00:00.000Z
- Del. Norton, Eleanor Holmes [D-DC-At Large] (D-DC), 2026-03-24T00:00:00.000Z

## Provisions PRIA read

- Tax on foreign subsidiary trades: cost, medium. If enacted, a controlled foreign corporation would be treated as a U.S. person for this trading tax. If a trade is covered only for that reason, and no U.S. exchange or broker must pay, U.S. shareholders would owe the tax. Each shareholder would pay a pro rata share based on stock owned. Treasury w…
- Small tax on stock and derivatives: cost, low. If enacted, each covered trade would face a small tax. The tax would be a percent of the trade’s value. Rates would be 0.02% in 2026, 0.04% in 2027, 0.06% in 2028, 0.08% in 2029, and 0.10% from 2030 on. For securities, the base is fair market value at the time of the trade. For derivatives, the bas…
- What counts as a derivative: mixed, high. If enacted, many contracts would count as derivatives for this tax, including options, futures, swaps, and short positions tied to stocks, debt, commodities, currency, or indexes. Some contracts would be excluded, like certain insurance or annuity contracts, some real property deals that require ph…
- Which trades would be taxed or exempt: mixed, medium. If enacted, many trades would count if they happen on a U.S. exchange or involve a U.S. person. Derivatives traded on a U.S. exchange or with any U.S. party would also count. First sales of new issues would not be taxed. An exchange of property would be treated as a sale and a purchase for each par…

## Related bills

- 119-hr-8800: National Defense Authorization Act for Fiscal Year 2027
- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-3838: Streamlining Procurement for Effective Execution and Delivery and National Defense Authorization Act for Fiscal Year 2026
- 119-hr-7977: Energy Bills Relief Act
- 119-hr-7973: Momnibus Act
- 119-hr-3971: Domestic Workers Bill of Rights Act

## Sources
- [119-hr-4035 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/4035)

## Related
- [119-hr-8800: National Defense Authorization Act for Fiscal Year 2027](https://policyrisk.com/legislation/119-hr-8800)
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-3838: Streamlining Procurement for Effective Execution and Delivery and National Defe…](https://policyrisk.com/legislation/119-hr-3838)
- [119-hr-7977: Energy Bills Relief Act](https://policyrisk.com/legislation/119-hr-7977)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-3971: Domestic Workers Bill of Rights Act](https://policyrisk.com/legislation/119-hr-3971)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-4035 (as of 2026-04-21).