Plan for National Sales Tax Holiday is Shelved | AccountingWEB

Plan for National Sales Tax Holiday is Shelved

A Congressional push for legislation that would stimulate holiday shopping by providing a national sales tax holiday has met with delays that will likely prevent the holiday from occurring before the end of the year.

Although many Senators favor the proposed amendment to a national economic stimulus package, the topic probably won't be discussed in the Senate again until later this week at the earliers.

The White House has expressed interest in the idea of a national sales tax holiday, and has indicated support fur such an idea, even if the holiday were to occur after the new year.

Craig Shearman, a spokesman for the National Retail Federation, which represents retail establishments ranging from major department stores to small boutique outlets, claims a sales tax holiday could double retail sales.

The proposed Senate legislation is supported by Senators Olympia Snowe, R-ME, the bill's sponsor, Strom Thurmond, R-SC, Larry Craig, R-ID, Joseph Lieberman, D-CT, and Dianne Feinstein, D-CA.

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