Sen. Tim Kaine Stops in Roanoke to Talk About Online Sales Tax
Roanoke, VA - Sen. Tim Kaine is making his way around the Commonwealth over the next few days to discuss the upcoming vote on the Marketplace Fairness Act.
Kaine was at Roanoke's Chamber of Commerce Wednesday to talk about the Act that's been the center of debate for a more than a decade; a debate that will be put to a vote soon.
The senator has scheduled meetings not only in Roanoke, but in six other cities over the next few days trying to give business and civic leaders his reasons for supporting the Act.
The new legislation is looking to level the playing field for businesses. If passed, will give states the authority to collect taxes on Internet sales.
It will also force states to simplify their tax laws to make multi-state sales tax collection easier.
Kaine says the change will allow small business to better compete against online retailers.
"The estimates that I've seen in Virginia could be north of $300 million a year. These are tax dollars that have been owed but since they are not collected in the way normal sales tax is most people don't even realize that they are owed," said Kaine.
If it passes, Virginia has already made the commitment to use the extra revenue to help fund the Commonwealth's transportation funding shortfall. Kaine expects a vote early next week. He believes the odds of it passing are pretty good.