Investment Company Institute’s Letter to U.S. Committee on the Budget

Investment Company Institute’s Letter to U.S. Committee on the Budget
A letter from a trade organization representing more than 90 million investors in U.S. mutual funds that raises “a strong objection to any effort to advance a financial transaction tax (FTT) as part of a House Democratic Budget Alternative.” The letter continues “Quite frankly, an FTT is a terrible idea. It would harm all investors, especially middle-income American workers saving for retirement. We have yet to see a FTT proposal that would not hurt Main Street nor weaken our capital markets.”