In its struggle against surging online retailers such asAmazon.com Inc., Wal-Mart Stores Inc. has unleashed a weapon longshunned by Sam Walton: lobbying.
On July 24, the U.S. House of Representatives JudiciaryCommittee will hold a hearing on a bill to let states collect salestax from out-of-state merchants that sell to their residents. If itis passed, online retailers, which now mostly don't collect salestax, will lose a price advantage that has helped them take businessfrom brick-and-mortar stores.
Wal-Mart, which has been boosting political contributions andstaffing up its Washington office, is one of the prime moversbehind the bill, said Congressman Steve Womack, an ArkansasRepublican who authored the proposed legislation.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
