So, New York Democrats, desperate to find new ways of supporting some of the most lavish vote-buying programs in the United States, have cast a covetous eye on the New York Stock Exchange.
A proposal has been floated that would tax NYSE financial transactions made at NYSE, which Dems say could raise upwards $29 billion a year for state coffers.
NYSE's president, however, says (paraphrasing) "You know, Austin, Texas, would make a lovely financial capital of the United States."
https://www.forbes.com/sites/ginaheeb/2021/02/09/new-york-stock-exchange-threatens-to-leave-new-york-over-proposed-stock-transfers/?sh=51547cf11809I read an interesting op-ed earlier this morning that said that when Sweden tried this some years ago nearly 75% of that market's trading was moved to the London exchanges. Net gain for Sweden was a net loss in tax revenue.
Personally I'd love to see the NYSE become the ATSE (Austin Texas Stock Exchange).