U.S. Rep. Steve Kagen said this morning he will soon introduce a bill with fellow House Dems to impose a transfer fee on some Wall Street transactions.

"We rescued Wall Street and now it's time to return the favor," the Appleton Democrat said in a conference call with reporters. Kagen estimated the bill would add $100 billion to $150 billion in revenue, and would exempt smaller investments and 401(k) contributions.

Kagen belives the proposal would call on Wall Street to participate in the rebuilding of the economy.

"Wall Street shouldn't be a one-way street," Kagen said. "(It should) pay its fair share."

Kagen originally proposed the transaction fee plan as a way to pay for the health care reform bill in October, but will introduce it anyway after the House passed its version of a health care bill last month.

- By Edgar Cevilla