July 23, 2010 TechNet Opposes H.R. 5660, the “Streamlined Sales Tax Bill”

Home » July 23, 2010 TechNet Opposes H.R. 5660, the “Streamlined Sales Tax Bill”

Washington, DC – TechNet, the bipartisan policy and political network of CEOs that promotes the growth of the innovation economy, today voiced concern over the introduction of H.R. 5660, the Streamlined Sales Tax Bill and the potentially negative impact it could have on innovation, online retail and small entrepreneurs.

“Online commerce continues to be a driver of small business growth while also providing a level playing field for entrepreneurs going up against larger, well-established companies,” said Rey Ramsey, President and CEO of TechNet.

“The proposed Streamlined Sales Tax legislation would harm that competitive balance and force businesses of all sizes to comply with additional administrative paperwork and tax burdens from thousands of state and local tax jurisdictions.”

“Innovative online retailers are bright spots in the nation’s economy and we must do everything we can to nurture their continued growth. While we understand the important budget challenges facing states, undermining one of the most promising engines of economic growth could slow the economic recovery and have the unintended consequence of placing undue financial burdens on America’s small business owners.”

About TechNet:
TechNet is the national, bipartisan network of CEOs that promotes the growth of technology industries and the economy by building long-term relationships between technology leaders and policymakers and by advocating a targeted policy agenda. TechNet’s members represent more than one million employees in the fields of information technology, biotechnology, e-commerce and finance. TechNet has offices in Washington, DC, Palo Alto, Sacramento, Seattle, Boston and Austin,Texas. Web address: www.technet.org. You can also follow us on Facebook and Twitter at @technetupdate.