CBS MarketWatch reports that Sen. Ron Wyden (D-Ore.) and Rep. Chris Cox (R-Calif.) have reintroduced the Internet Tax Non-Discrimination Act, which would make permanent the current moratorium on Internet sales taxes.
"Given the continued softness in the tech economy, this is hardly the time for new taxes on the Internet," Rep. Cox said. "Rather, providing long-term certainty about tax policy is one of the necessary ingredients for a tech rebound."
The National Governors Association opposes extending the moratorium, saying it would be extremely damaging to states already suffering from fiscal problems.
"Given the continued softness in the tech economy, this is hardly the time for new taxes on the Internet," Rep. Cox said. "Rather, providing long-term certainty about tax policy is one of the necessary ingredients for a tech rebound."
The National Governors Association opposes extending the moratorium, saying it would be extremely damaging to states already suffering from fiscal problems.
- KC's View:
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We’re in favor of the current moratorium and think it ought to be extended; we agree that it is in the long-term best interests of the nation not to do anything to hurt the tech segment. And let’s face it, most governors these days, regardless of party, would tax breathing if they thought it would help them balance their budgets and they could get away with it.
However, we don’t think it ought to be permanent. There likely will come a time when the segment is all grown up and able to handle a tax…at which point there’s no reason an Internet sales tax shouldn’t be assessed.
