Rep. Pete DeFazio (D-Ore.) recently suggested a transportation tax on Wall Street oil speculators—and it continues to gain support on Capitol Hill. A month after he proposed the measure, 29 fellow Democrats have latched on to the idea.
According to DC Streetsblog.org, The bill would set the tax at 0.2% for every oil futures contract and 0.5% for every option on a futures contract, which DeFazio said would raise nearly $200 billion for transportation over the next six years.