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Internet Tax Freedom Act
| Date: | November 1998 |
| Section: | Policy News |
Both the House and the Senate have passed S. 442, the Internet Tax Freedom Act. This bill creates a three-year moratorium on the collection of taxes by local and state agents from electronic commerce conducted on the Internet.
At the time CRN goes to press, it is anticipated that the President's signature is soon to follow. In a statement from the Office of the Press Secretary released on October 8, 1998 the President affirms his resolve to sign this bill into law.
STATEMENT BY THE PRESIDENT
"I am pleased that the Senate has joined the House in passing the Internet Tax Freedom Act. This bill will create a short-term moratorium on new and discriminatory taxes that would slow down the growth of the Internet, and launch a search for long-term solutions to the tax issues raised by electronic commerce. As I said earlier this year in my speech on Internet policy, we cannot allow 30,000 state and local tax jurisdictions to stifle the Internet, nor can we allow the erosion of the revenue that state and local governments need to fight crime and invest in education. I look forward to signing this legislation into law so that America can continue to lead the world in the Information Age."
