Now that Congress has passed the payroll tax cut bill maybe it will move quickly to close the online sales tax loophole.
Sen. Lamar Alexander on Thursday urged the Senate to do just that. Conservative support for Marketplace Fairness Act is building and now is the time to pass the bill, the Tennessee Republican said.
In a speech on the Senate floor, Alexander listed a number of notable conservatives who support closing the loophole that will cost state and local governments $23 billion this year alone. About the only name he didn’t drop was Grover Norquist.
Updated with comments from Regal Entertainment Group CEO Amy Miles
A new Sony Corp. policy regarding disposable 3D glasses could make some of next summer’s 3D movies more expensive for consumers and theater owners.
Sony’s movie studio has told Knoxville-based Regal Entertainment Group and other theater owners that it will no longer pay the millions of dollars per film it costs to provide disposable glasses for 3D movies, according to a story in The Hollywood Reporter.
In response to Sony’s new policy, Regal CEO Amy Miles said Wednesday that the Regal is committed to holding down costs for its customers and may devote fewer screens to show Sony 3D movies.
The battle over who pays for 3D glasses comes at a time when theater owners face sluggish revenue growth and consumers struggle with high unemployment and a weak economy.
Just in time for the holiday shopping season, Consumer Reports has come out with its first “Naughty & Nice Holiday List,” which highlights some of the best and worse corporate shopping policies.
“Our goal isn’t to laud one company or put down another, but to call out specific policies that we think put consumers first or put them behind the eight ball,” Tod Marks, senior editor and resident shopping expert at Consumer Reports, said in a statement.
Some big names aren’t going to like what CR has to say.
Tennessee’s sales tax holiday is almost here. Will you be shopping?
The state Department of Revenue certainly hopes so. Considering that Tennessee does not have a personal income tax, a sales tax holiday seems risky.
Nonetheless, it’s a good idea. One that Tennessee consumers have come to count on, especially parents on the hook for school supplies, clothes, computer and everything else it takes to get their kids ready for school.
Since its start in 2006, Tennessee shoppers have saved $8 million to $10 million during the sales tax holiday.
That’s pretty decent, considering that consumers supposedly have pulled back on spending in recent weeks. The Commerce Department reported Friday that retail spending in May posted the biggest decline in eight months.
Consumers may be hanging on to their cash, but the new Pigeon Forge attraction hasn’t suffered. That’s a good thing for the regional economy.
The museum “is a half-scale, permanent, three-deck recreation of the Titanic,” according to a press release.
Interesting phrasing by the release writer. I’m glad the owners built a “permanent” museum, instead of a temporary one.
Today’s conventional wisdown is that the recovery is on shaky ground because consumer incomes posted only a slim increase in March. If consumers stop spending the nascent recovery could be in trouble, is the line of thought.
But the big kuhuna of the financial world — billionaire Warren Buffett — says the economy is showing real strength.
The economy still has a ways to go but these stories suggest good things are happening with the recovery.
Specifically — cosumers are shopping again, investors are regaining their confidence, advertising is bouncing back and, perhaps, most significant, there is light at the end of the tunnel for General Motors.