This bill amends the Internal Revenue Code of 1986 to impose a new tax on specific financial trading transactions involving securities and derivatives. The tax rate begins at 0.02 percent for transactions after December 31, 2025, and incrementally rises by 0.02 percent annually, reaching 0.1 percent for transactions occurring after December 31, 2029. This tax applies to purchases on a U.S. qualified board or exchange, or those involving a U.S. person, as well as derivative transactions under similar conditions, with an exception for initial security issuances. The legislation broadly defines "security" to include stock, partnership interests, and most debt instruments, along with derivatives. A "derivative" covers various contracts like options, futures, and swaps, whose value is tied to underlying assets such as stocks, commodities, or currencies. Exemptions apply to certain real property contracts requiring physical delivery, securities lending, employee stock options, insurance contracts, and inter-company derivatives within a worldwide affiliated group. Payment responsibility generally rests with the qualified board or exchange, a U.S. broker, or directly with the U.S. person involved. Controlled foreign corporations are treated as U.S. persons for this tax, with their U.S. shareholders paying a pro rata share. The Secretary of the Treasury, in consultation with the SEC and CFTC, will administer the tax and issue guidance to prevent avoidance.