Barbara Boxer: “Today, I am joining Senators Allen, Burns, and Gregg in supporting an extension of the Internet tax moratorium for…”

“Today, I am joining Senators Allen, Burns, and Gregg in supporting an extension of the Internet tax moratorium for another 5 years. I supported the moratorium when it was initially instituted in order to encourage the growth of the then newly emerging Internet industry. In the 1990s, the industry enjoyed a growth spurt that helped move the whole economy forward. But recently, Internet companies have fallen on hard times. Because Internet commerce and technology firms are not now fairing well, I support a five year extension of the tax moratorium. I believe that renewed investment in the Internet is crucial to the welfare of the entire economy and we need to support its growth as much now as we did in 1998. Through a clean extension of the tax moratorium, Congress can promote an environment for Internet growth that avoids the uncertainty, inefficiencies, and barriers to entry that new taxes would create.”