HI HR166

Urges Congress to impose a financial transactions tax on trading transactions similar to the proposed Inclusive Prosperity Act of 2017 (H.R. 1144; S. 805).

Cites the 2007-2009 financial crisis that resulted in $19.2 trillion in lost household wealth and required $600 billion in taxpayer-funded bailouts to 800 financial institutions.

Identifies high frequency trading as constituting up to 70 percent of market activity and causing market instability through extreme price volatility and speculation.

Proposes revenues from the tax be allocated to strengthen social safety net programs, fund infrastructure and green jobs, expand Medicare and Medicaid, provide student debt relief, and support climate change initiatives.

Directs transmission of certified copies to the President, congressional leadership, Senate Finance Committee Chair, House Ways and Means Committee Chair, and all members of Hawaii's congressional delegation.