Number: RL32266
Title: Transaction Tax: General Overview
Authors: Maxim Shvedov, Government and Finance Division 
Abstract: 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.
Pages: 10
Date: December 2, 2004