Wednesday, April 21, 2010

New bank tax picks up support in Congress

WASHINGTON (AP) - A new tax on large banks is picking up support in Congress as Democrats target financial institutions that benefited from the Wall Street bailout to help pay for their jobs program and other election-year initiatives.

One senator, Chuck Schumer, D-N.Y., said Tuesday he wants to include the bank tax in a bill stiffening financial regulations, an idea rejected by Banking Committee Chairman Christopher Dodd, D-Conn.

(Full story)

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