Senate Gives Value-Added Tax Thumbs Down

Ad Feedback

The Senate has voted against creating a value-added tax, or VAT, in the U.S.

VAT is a type of national sales tax and it is used throughout Europe.

The Senate voted 85 against the idea, leaving only 13 in favor. It is a non-binding vote, but does officially put the Senate on record opposing the idea.

"Instead of offering proposals to reform the system and ease the burden on our citizens, some are suggesting creative ways to impose new taxes on Americans and even further complicate our tax code," Sen. John McCain, R-Ariz., said. "While there is no official proposal to impose the VAT, I think it is necessary for my colleagues to be on record on this onerous new tax."

This comes just weeks before President Barack Obama's debt commission begins meeting. They are expected to create a plan to cut Washington's deficits.

Six senators who voted against the VAT are on that commission. The VAT has been widely discussed as one option to raise more money for Washington.

Follow CBN News on:

  

Log in or create an account to post a comment.  

CBN IS HERE FOR YOU!

Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

 CBNNews.com

CBNNews.com

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.