Tags: bank tax | tim johnson

Sen. Johnson: Bank Tax Revival 'Unlikely'

Monday, 01 Nov 2010 10:16 AM

The next chairman of the U.S. Senate Banking Committee, if Democrats keep control of the Senate in Tuesday's elections, told Reuters on Friday it is "highly unlikely" a new tax on banks will be considered.

Democratic Senator Tim Johnson said in an interview that his top priorities as chairman would be oversight of the landmark Dodd-Frank financial regulation reforms enacted into law in July, with "fine tuning" to them likely but little prospect of sweeping change.

"I think it is highly unlikely that the bank tax is considered," Johnson said.

"My colleagues and I will continue working through implementation of (Dodd-Frank) to determine if a larger corrections bill is needed ... Sweeping change is unlikely."


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