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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Bald Man from Mars who wrote (4605)	3/9/1998 11:02:00 PM
From: Lazlo Pierce	Read Replies (1) \| Respond to of 18691

From MSNBC.com <<Lott reconsiders ban on Internet taxes Senator tells state, local leaders bill awaits their endorsement ASSOCIATED PRESS WASHINGTON, March 9 - Senate Majority Leader Trent Lott delivered good news to city leaders Monday, saying the Senate would not act without their support on legislation to block state and local government taxation of Internet transactions and on-line services. Lott, R-Miss., said the tax burden on Americans already was too heavy, and he urged the assembly of local officials to work with Congress on finding ways to reduce the debt-load "WHAT I THINK we need to do is work together and find a way that we can keep the tax burden from growing ... while giving you the opportunity to make sure that your tax base is not taken away from you in the years ahead," he told the annual meeting of the National League of Cities. ÿ ÿ ÿ ÿ"We will not have action (on the bill) in the Senate until we have worked out an agreement that you are comfortable with," Lott added as the audience cheered and applauded. ÿ ÿ ÿ ÿThe cities league and the National Governor's Association have been among the loudest critics of a pending proposal to set a five-year moratorium on such levies. ÿ ÿ ÿ ÿPresident Clinton endorsed the measure a week-and-a-half ago, saying government shouldn't allow unfair taxation to weigh down and stunt the Internet's development. ÿ ÿ ÿ ÿThe recent growth in online commerce has led many states and other taxing jurisdictions to propose new taxes on such transactions, with much of the proceeds being used for education. ÿ ÿ ÿ ÿThe bill has cleared the Senate Commerce Committee and two House subcommittees. ÿ ÿ ÿ ÿ"That's exactly what we wanted to hear," Brian O'Neill, a Philadelphia councilman and the league's president, said about Lott. "That was just a major statement that thrilled many of us." ÿ ÿ ÿ ÿHouse Speaker Newt Gingrich, R-Ga., who spoke after Lott, made no similar promise. ÿ ÿ ÿ ÿIn backing the moratorium, Clinton said time was needed to work out ways to ensure that electronic commerce is treated fairly and that state and local governments get the tax revenues they deserve. He also promised a bipartisan commission to devise solutions. *************************** Is he saying that the moratorium being bandied about is in jeopardy? Would this even slow down the internet juggernaut? Dave