ICI Supports Legislation to Shield U.S. Investors from Foreign Financial Taxes

ICI issued the following statement in support of H.R. 6616, a bill introduced by Representative Tom Price (R-GA) and designed to protect American investors from the application of extraterritorial financial transaction taxes.

“Representative Price has weighed in on a very important issue for U.S. market participants, including mutual funds and their more than 90 million shareholders. His legislation responds to an inappropriate attempt by France to impose its financial transactions tax on American shareholders who trade domestically in certain U.S. securities. We strongly support this timely effort by Representative Price to protect American investors from the extraterritorial application of this tax, which would deprive them of the return they have earned on their investments.”

Please visit ICI’s resource center for more information on this issue.