President Barack Obama said today he will nominate Senate Finance Committee Chairman Max Baucus to become ambassador to China, slowing the chances of the biggest changes to the U.S. tax code since 1986.
Senate Finance Chairman Max Baucus’s departure from Congress could doom his career goal to make the biggest changes to the U.S. tax code since 1986, with the project probably going to Oregon Democrat Ron Wyden.
A thicket of state laws imposing sales taxes on electronic commerce is creating pressure for federal intervention to end the squabbles between states and online merchants, a lawyer monitoring the issue said.
Since the birth of the Internet, online retailers and consumers have guarded the tax-free click. Not having to collect state sales taxes has allowed digital stores to flourish. Shoppers have been able to find what they want in regular stores, only to order the same product online -- tax-free.
Just two months before Colorado retailers begin selling marijuana for the first time in the U.S., voters will weigh in today on a 25 percent tax to help fund enforcement efforts intended to forestall federal intervention.
Former Governor Mitch Daniels argued for years that Indiana had too much local government -- a costly maze of overlapping townships, taxing districts and city and county entities that took shape before the Civil War. The Republican even recruited his Democratic predecessor to help make the case.
Local and state sales taxes “add significantly” to the amount consumers pay for everyday goods, with Tuba City, Arizona, charging 13.725 percent, the most of any municipality, the Tax Foundation reported.