Senators Propose Merging Internet Tax Bills
With the House of Representatives recent passing a permanent extension of the Internet Tax Freedom Act, a group of Senate Democrats are moving forward with their 10-year extension proposal to merge the bill with the Marketplace Fairness Act. If successful, the proposal would unite a bill that gives states power to charge sales tax on online purchases with the bill prohibiting states from imposing taxes on Internet access. Although a vote could occur as early as this week, several lawmakers have little interest in the proposal. Visit The Hill for the complete story. Visit our website to find out more about our. Read More.
Rep. Maloney Introduces Controversial Disclosure Bill to House
Resembling a 2010 bill enacted by California, H.R. 4842, the Business Supply Chain Transparency on Trafficking and Slavery Act of 2014, was recently introduced in the House of Representatives. The proposed bill requires U.S. public companies with $100 million in yearly sales to submit annual reports to the U.S. Securities and Exchange Commission (“SEC”) detailing their efforts to recognize suppliers that use slaves, forced labor or children for producing goods. Rep. Carolyn Maloney, the bill’s sponsor, remarked that the requirement would inform consumers on what measures companies are taking to stop illegal labor practices, and reaffirms such businesses to communicate what. Read More.
Topics: Business Supply Chain, Carolyn Maloney, Center for Capital Market Competitiveness, Disclosures, First Amendment, House of Representatives, Thomas Quaadman, Trafficking and Slavery Act of 2014, U.S. Chamber of Commerce, U.S. Securities and Exchange Commission "SEC"