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RICHMOND, Va (WTVR) – Proposed legislation working its way through Congress would allow states to collect sales tax on purchases made over the internet.
Specific language in the Commonwealth’s new transportation funding bill would allocate some of the revenue from internet sales tax to statewide transportation funding. Virginia Governor Bob McDonnell is expected to sign the transportation legislation into law Monday afternoon.
If Congress passes the internet sales tax initiative, the Governor’s Office predicted $252.6 million in revenue from online sales tax in fiscal year 2014. About 57 percent of that money would go directly to statewide transportation.
The rest of the money would be broken down between education, local initiatives and local transportation projects.
The online sales tax initiative passed the U.S. Senate last week, but is expected to face opposition in the House of Representatives. President Barrack Obama has expressed his support of the measure.
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