House Dem rolls out Robin Hood tax

Rep. Keith Ellison (D-Minn.) rolled out a bill Thursday that would place a small tax on financial transactions.


The Wall Street tax — or Robin Hood tax, as the proposal is often called — is popular among liberals who say it would help reduce income inequality and pour more money into priorities like infrastructure. 

"If the United States joins the dozens of other nations already benefitting from a financial transaction tax, we can create millions of jobs, while also reducing dangerous market volatility," Ellison said in a statement.

European countries have shown more interest than the U.S. in a financial transaction tax, which has never gotten the support of the Obama administration.