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Article: NRF blasts proposal for 15% U.S. sales tax.(National Retail Foundation; National Retail Sales Tax)(Brief Article)
- Article from:
- WWD
- Article date:
- April 11, 1997
- Author:
CopyrightCOPYRIGHT 1997 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON -- The National Retail Federation came out swinging Thursday against a Congressional proposal to replace federal income taxes with a 15 percent sales tax, saying consumers will be sticker-shocked if it passes.
Called the National Retail Sales Tax, the bill would abolish federal taxes -- income, capital gains and inheritance -- as well as the Internal Revenue Ser- vice.
It would not, however, erase dedicated levies such as gasoline taxes desig- nated for transportation projects. Sponsors Rep. Dan Schaefer (R-Colo.) and Billy Tauzin (R-La.), who first introduced the bill last year, plan to reintroduce it on Tuesday.
Supporters, including the ...