Hawaii

Tulsi Gabbard: Everything you need to know about the 2020 candidate

Tulsi Gabbard at the 2016 Democratic National Convention. Photo: Aaron P. Bernstein/Getty Images

Rep. Tulsi Gabbard (D-Hawaii) is an Iraq War veteran who has bucked the Democratic establishment on a few high-profile occasions. During the 2016 primary, she resigned as vice chair of the DNC to throw her support behind Sen. Bernie Sanders. She also met with President Trump during his transition — and joined Republicans in promoting the use of the phrase "radical Islam."

Hawaii senator proposes "Tobin tax" on financial transactions

Illustration of an upward market trend line with a price tag.
Illustration: Aïda Amer/Axios

The financial transactions tax, or FTT, is also known as a "Tobin tax," after James Tobin, the Nobel laureate who proposed a small tax on currency transactions in 1972. It's a popular way of raising revenue: The UK has had such a tax for decades, and there's a good chance that France's existing tax could be extended to encompass the entire EU.

Driving the news: The tax is also popular on the American left, and this week Brian Schatz, a U.S. Democratic senator from Hawaii, proposed his version of it: a flat 0.1% levy on the sale price of all stocks, bonds and derivatives.