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The plan, which Representative Chris Van Hollen of Maryland
was to introduce, could create a windfall of about $1.2 trillion
over a decade, the newspaper said. As much as $800 billion of
that could come from a 0.1 percent fee on stock trades, mostly
from high-volume transactions, Van Hollen told the Post.
The legislation calls for a "paycheck bonus" of $1,000 for
individuals and $2,000 for married couples, a bonus of $250 for
people who save at least $500 a year and reduced "marriage
penalties" for couples.
Income equality has been a major issue for Democrats, but the
proposal would have little chance in Congress, where Republicans
now have majorities in both the Senate and House.
The Post said Van Hollen's plan would encourage corporations to
raise workers' wages and limit their deductions of bonuses paid
to executives in excess of $1 million. It also would cut back
tax breaks for the top 1 percent.
(Writing by Bill Trott; Editing by Lisa Von Ahn)
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