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Shea-Porter's "Tiny Tax"

Date: Oct. 23, 2014
Location: Manchester, NH
Issues: Taxes

Yesterday, at the Greater Manchester Chamber of Commerce Debate, Congresswoman Shea-Porter doubled down on her proposal to tax financial transactions.

Shea-Porter first floated this massive tax increase last week in Conway, and supported legislation in the House of Representatives to implement this.

Frank Guinta released the following statement:

"The Congresswoman has consistently worked against the interests of middle class New Hampshire families. A financial transaction tax of the nature she proposes would put the dream many families have of providing a college education for their children out of reach. It would affect anyone trying to save a little extra for retirement. It would hurt anyone trying to save to put a down payment on their home. In short, a financial transaction tax would put the American dream out of reach for millions of middle class families. Granite Staters deserve a representative who puts your interests first, not their ideology."

Background: A financial transaction tax would apply to trades made by, among others, individuals managing investment funds such as 401(k), retirement savings plans, college savings plans, and a significant amount of other intermediaries whose customers are typically moderate-income individuals.