Wall Street Tax Act of 2025

The Wall Street Tax Act of 2025 imposes a new transaction tax on securities trading in the U.S. It applies to purchases on U.S. exchanges or involving U.S. persons, and to derivative contracts meeting specific criteria. The tax rate starts at 0.02% for transactions in 2026-2027, gradually rising to 0.1% after 2029, based on the fair market value of the security or derivative payment. Excluded are initial security issuances and short-term debt (under 100 days). The tax is paid by exchanges, brokers, or directly by U.S. traders depending on the transaction type, effective after December 31, 2025.