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January 12, 2010

White House Considers New Tax on Large Banks
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The White House is considering imposing a new tax on large banks in an
effort to recoup some of the money taxpayers spent on bailing out the
financial system. The New York Times reports the general idea is to
devise a levy that would help reduce the budget deficit and would also
discourage the kinds of excessive risk-taking among financial
institutions that led to a near collapse of Wall Street in 2008. The
Obama administration has so far rejected a transaction tax on financial
trades and a special tax on executives’ bonuses.



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