Washington-A bill designed to punish Wall Street for excessive speculation is already facing significant obstacles less than a week after Representative Peter DeFazio introduced it in the House of Representatives. DeFazio, a Democrat from Oregon, was joined by 22 of his House colleagues last week in calling for a transaction tax on futures contracts, options, swaps, stock transactions and credit default swaps to raise money for a job-creation reserve and to help pay down the federal deficit.
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