Senate Finance will hold hearing on bank tax

The Senate Finance Committee wil hold its third hearing on a proposed fee on large financial institutions being pushed by the Obama administration. 

The committee will consider the effects of various options for structuring a proposed bank tax. 

The hearing, scheduled for 10 a.m. Tuesday, will feature several witnesses including, Nancy McLernon, president and CEO of the Organization for International Investment; Edward DeMarco, acting director of the Federal Housing Finance Agency; Douglas Elliott, economic studies fellow at The Brookings Institution; and David John, senior research fellow, The Heritage Foundation. 

So far the panel has heard from Neil Barofsky, special inspector of the Troubled Asset Relief Program, and Treasury Secretary Tim Geithner, who testified earlier this week. 


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