The Stock Transfer Tax Rebate Issue is a Hot Topic in the New York State Legislature. Here's What the Media has to Say About It.
For more than 75 years, New York State collected a minuscule tax [half a penny back in 1905] on stock trades. The revenue helped make both the City University of New York and the State University of New York systems, as well as Mitchell-Lama housing and a bunch of other public-centered projects, possible.
Read Article Work-Bites (09/07/25)
The biggest mistake in the history of New York State public finance was the elimination of the Stock Transfer Tax, which existed from 1905 to 1981.
Empire Report (09/07/25)
If Hochul truly wants to advance our wellbeing and alleviate much
hardship and suffering, she should wholeheartedly support passage
of A14941 Steck and identical bill S1237/Sanders to repeal the Stock
Transfer Tax Rebate and thus restore the minuscule 1/10th of 1% stock
sales tax.
New York Daily News (08/15/25)
... A1494 — Assembly Member Phil Steck’s legislation to finally rescind the New York State Stock Transfer Tax Rebate. Those who ultimately owe their fealty to Wall Street and fear the working class power you’ve tapped into this summer are already having a field day deriding your calls for truly transformative measures like city-owned grocery stores, tuition-free CUNY, fare-free bus transit, and a rent freeze.
Work-Bites (07/01/25)
Rallying for bill S.1237* / A.1494-A* #peopleoverprofit #RayRogers This is a bill New York State needs reinstated to its original form. The state would generate $40-60 billion a year and Wall Street speculators, who trade at high frequency, will pay the vast bulk of the tax. This revenue can be allocated to social programs and the greater good.
New York State Senator
James Sanders
New York State Asstemblymemeber
Phil Speck
On the heels of rallying on Wall Street for the reinstatement of the stock transfer tax, Assemblymember Phil Steck (D), joined Power & Politics.
Power and Politics (05/01/25)
“As public officials, our duty is to protect and serve the everyday New Yorker, not Wall Street billionaires. The average New Yorker isn’t trading millions in stocks every day, they’re riding the subway, raising families, and working hard just to make ends meet.
Press Release (04/25/25)
Two state lawmakers think taxing the stock market could plug future holes in the state budget and help fund major policy initiatives. State Sen. James Sanders and Assembly Member Phil Steck are reviving a push to reinstate a five-cent tax on stock trades that take place in New York.
City & State New York (04/24/25)
With the looming 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 programs...
Press Release (04/24/25)
New York State has been rebating billions of dollars in stock-sales taxes to Wall Street for more than 40 years — and legislators and activists are making another try to change that.
Work-Bites (04/24/25)
"The stock transfer tax is designed to restore some sense of balance to the economic system," Assemblyman Phil Steck, a sponsor of the bill, said Wednesday outside the New York Stock Exchange...
Bloomberg (04/23/25)
"We have tried to do things to make this a far more livable state, and we found a relatively easy way of doing it," said Sanders. "Almost painless [and] pennies on a dollar that would aid the people of New York State immensely."
Amsterdam News (04/22/25)
New York State Senator James Sanders Jr. and Assemblymember Phil Steck will join activists from the Corporate Campaign, New York State Council of Churches, the New Economy Project, and other advocacy organizations for a press conference urging New York State to reinstate the Stock Transfer Tax.
Corporate Crime Reporter (04/21/25)
"We're fixated with using tolls and fees as a stick against the working class and the poor -- but just fine with tax exemptions for corporations." - Bhairavi Desai, president, New York Taxi Workers Alliance.
Work-Bites (02/01/25)
In a February 11, 2021 letter to then Governor Andrew Cuomo, Senator James Sanders Jr. and Assembly member Phil Steck urged him to reject the criticism ...
Press Release (02/11/25) — Read SIFMA Letter
organizations and scholars calling for fiscal and social responsibility by repealing the STT rebate or do we follow the dictates of super wealthy corporate executives serving on the boards of the CBC, PFNYC and SIFMA?
Work Bites (01/20/25)
Campaign to Repeal New York's Multibillion Dollar Stock Transfer Tax Rebate.
Takes Aim at Governor Hochul, Legislators and Corporate Naysayers.
Read Press Release