Clinton Opposes 5-Year Internet Tax Moratorium

Earlier this year the House passed a measure to freeze any attempts at an Internet tax for five years. Now that Congress is winding down for the year and attempting to pass many last-minute measures, Clinton has announced that this is one measure that won’t make it through the pipeline.

Although no attempts to push the Internet tax moratorium through the waning days of this Congressional session, the White House is concerned that the House may attempt to tack this measure onto another bill during a last minute bill- signing frenzy.

The bill, which passed in the House, sets a five-year moratorium on Internet access taxes and new, multiple, and discriminatory taxes on electronic commerce; such moratorium is now set to expire in October, 2001. Congress will still be able to address this measure next year.

There is some room for negotiation – the White House has indicated it might not object to passage of a two-year moratorium on Internet taxes.

You may like these other stories...

OECD calls for coordinated fight against corporate tax avoidanceDavid Jolly of the New York Times reported that dozens of countries with the most advanced economies have agreed on principles for concrete action to prevent...
Plan ahead before you buy some shares in a stock mutual fund near yearend, when the fund is about to pay a dividend. It might be better to wait until after the fund goes "ex-dividend," that is, wait until after the...
AgFeed agrees to pay $18 million to settle SEC accounting fraud caseMichael Rapoport of the Wall Street Journal reported on Monday that AgFeed Industries Inc. has agreed to pay $18 million to settle US Securities and...

Already a member? log in here.

Upcoming CPE Webinars

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.
Oct 30
Many Excel users have a love-hate relationship with workbook links. For the uninitiated, workbook links allow you to connect one Microsoft Excel spreadsheet to other spreadsheets, Word documents, databases, and even web pages.