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Today marks the biggest online shopping day of the year! Dubbed Cyber Monday, millions of people are expected to take advantage of huge sales and mostly sales tax-free online shopping. Unfortunately, though, this could be our last tax-free Christmas shopping season if some politicians get their way.
There is a battle in Washington over a proposed Internet sales tax. Members of both parties support the so-called Marketplace Fairness Act that would force online businesses to collect sales tax from customers in other states. Fortunately, the bill is not expected to be debated in the lame duck session as we feared.
That doesn’t mean that we can put down our guard, though.
This fight has been brewing for many years with some powerful special interests on the pro-tax side. President Obama and Republican Senators Enzi (R-WY) and Alexander (R-TN) have thrown their support behind the bill. Many big businesses support the bill, assumingly as a way to hurt their small competitors.
It’s likely that the bill will be introduced next session.
Here’s a video detailing what you need to know:
It’s important to remain vigilant to ensure that greedy politicians don’t attempt to tax our Christmas presents. Say no to an Internet sales tax!