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Rating:DeFazio's  Tax Proposal Could Be a Boon to Index Funds
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Tuesday, January 19, 2010

DeFazio's Tax Proposal Could Be a Boon to Index Funds

News summary by MFWire's editors

In Tuesday's Wall Street Fund Track, Ian Salisbury takes a look at how Rep. Peter DeFazio's (D-OR) "Let Wall Street Pay for the Restoration of Main Street Act of 2009" -- which would levy a 0.25 percent tax on stock and derivative trades -- could benefit Main Street investors.

Rep. Peter DeFazio's (D-OR)

Salisbury points out that the burden on fund investors would be smaller compared to "other controversial fees investors have paid for years, to Wall Street rather than the government." (read: 12b-1s.)

He also writes that DeFazio's proposal, unveiled last month, could bring about an "unintended plus": investors could gravitate more toward index funds. 

Edited by: InvestmentWires Staff, 

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