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Senate approves extension of tax moratorium

Published on .

Washington--Congress has passed a two-year extension of the moratorium on federal taxes on Internet sales. The Direct Marketing Association, New York, called it the right choice at the right time. H. Robert Wientzen, DMA president-CEO, said in a statement that the moratorium will give electronic commerce companies a chance to grow. President Bush has indicated he will sign the bill, though the Bush Administration favored a five-year stay of federal taxes on Internet revenues. Supporters of the moratorium say e-commerce is a driver of economic growth; opponents say the moratorium can unfairly hinder brick-and-mortar businesses.
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