The Washington Post discussed President Obama's suggestion to impose a tax on banks and including a brief mention of financial transactions taxes. Proposals for such a tax have been introduced in the House by Representative Peter Defazio and in the Senate by Tom Harkin.
After noting these proposals, the article then comments:
"Treasury officials oppose the idea. They warn that banks would try to impose the fee on their customers, shifting the cost partly to the broader economy. A range of legislators and economists share this view, arguing that such a tax would punish small investors and increase the cost of financial services. "