Tough Tax Talk From USTA
Just in case you missed it, the Bush administration's 2008 budget request includes the repeal of the federal excise tax on communications services. The Internal Revenue Service stopped enforcing the toll portion of the tax in 2006 after several court defeats, the U.S. Telecom Association reported.
However, the remaining provisions still apply to customers who subscribe to standalone local phone service, the trade group said. The administration estimates that the cost for the repeal is $1.2 billion over the next decade, down sharply from the $4.5 billion estimated in 2006.
USTA President Walter McCormick called the tax "regressive and outdated" and said it should be abolished immediately. He said his group plans to work with Capitol Hill and the White House to make the proposed change a reality.
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