Transaction Tax: General Overview (CRS Report for Congress)
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| Release Date |
Dec. 2, 2004 |
| Report Number |
RL32266 |
| Report Type |
Report |
| Authors |
Maxim Shvedov, Government and Finance Division |
| Source Agency |
Congressional Research Service |
Summary:
In recent years a number of alternative taxation mechanisms have been proposed to augment or replace income taxes and other traditional revenue sources. This report describes the economics of one of thema broad-based transaction tax. On February 3, 2004, Representative Fattah introduced H.R. 3759 (Transform America Transaction Fee of 2004) that would require the Department of the Treasury to study replacing the current federal taxes with a broad-based transaction fee. This report provides background information on transaction taxes and fees. It uses these terms interchangeably, since their economic impacts are identical.
