Union keeps pressure on for bank tax

The AFI-CIO will continue its grassroots effort to force Congress into creating a tax on banks. 

AFI-CIO president Richard Trumka lead a rally in Philadelphia last week and dozens of similar demonstrations are expected to occur through out the country this week. 

The union is calling for a tax on bonuses paid by finance firms. They also support a tax on risky transactions.   

Sen. Jim Webb (D-Va.) has introduced legislation imposing a 50 percent tax on certain bonuses paid by firms that either received TARP funds or benefited from the Housing and Economic Recovery Act of 2008. 

House Ways and Means Chairman Sandy Levin (D-Mich.) is looking to create a tax that curbs risky behavior by finance firms.

Senate Finance talks have also occurred at the staff level on creating a levy on financial firms.