Goldman Sachs Cancels GOP Fundraiser To Protest Proposed Bank Tax

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Goldman Sachs Group Inc (NYSE:GS) has canceled a Republican fundraiser it had been planning in protest of a recent proposal to raise taxes on banks with more than $500 billion in assets, reports Stephanie Armour and Ryan Tracy for The Wall Street Journal. Representative Dave Camp (R-MI), chairman of the House Ways and Means Committee wants to tax 0.035% of consolidated assets for banks with more than $500 billion, as he first mentioned a month ago. The plan is meant to raise $86 billion over ten years from roughly ten of the country’s largest financial institutions. Tax meant to offset…

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