Green Party on Stock Transfer Tax, Earth Day

State lawmakers, led by Assemblymember Phil Steck and Senator James Sanders Jr., gathered with advocates during Earth Week in front of the NY Stock Exchange to urge the state to reinstate the Stock Transfer Tax. Originally enacted in 1905, the Stock Transfer Tax was a modest half-penny levy on stock trades. However, it was repealed in 1981, resulting in an estimated loss of $13 to $17 billion in annual revenue for the state. With the pending threat of reduced federal funding, it is more critical than ever for New York to explore sustainable revenue sources. Reinstating the Stock Transfer Tax would provide much-needed funding for essential program. Some of the funds would be dedicated to climate efforts. Gloria Mattera of the Green Party, one of the speakers, talks with Mark Dunlea for Hudson Mohawk Magazine to talk about the tax as well as climate and Earth Day.