Republican Wants to Stop House From Pursuing Wall Street Tax (1)

The ranking Republican on the House Financial Services Committee proposed an amendment that would stop the panel from even thinking about taxing trades of stocks, bonds and derivatives.

Representative Patrick McHenry, the ranking Republican on the panel, offered an amendment Thursday that would prevent the committee from considering financial transaction taxes, a proposed new tax on capital markets that is gaining support among Democrats.

Patrick McHenry

Photographer: Andrew Harrer/Bloomberg

The Democratic-controlled panel hasn’t yet voted on McHenry’s amendment but it would likely fail if Chairwoman Maxine Waters called it up. His attempt demonstrates that Republicans are mobilizing against proposals to raise taxes on ...