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Stimulus Package, No Section 31 Reform

Traders Magazine, November 2001

Gregory Bresiger

Section 31(a) reform remains in legislative limbo, waiting for action by lawmakers. Questions remain over whether the bill, which would reduce the transaction tax, will become law this year. "I think it is dead for the year. We tried very hard, but the events of Sept. 11 just stopped this thing. We had some bad luck," said a securities industry lobbyist, who did not want to be quoted by name.

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