Treasury Secretary Mnuchin is ‘looking closely’ at online sales taxes

The Trump administration is weighing whether to support online sales taxes that could give state governments greater flexibility in their budgets. Testifying before the Senate Appropriations Subcommittee July 25, Treasury Secretary Steven Mnuchin said the White House “is looking very closely at this issue” and that it intends to “come out with a position shortly.”

Sec Mnuchin said that the policy could be an important way for states to fund infrastructure — an issue that President donald Trump has touted as a key part of his agenda with a $1 trillion spending plan. Some analysts have questioned the feasibility of that plan because it would cut federal investments in infrastructure by tens of billions of dollars. But allowing states to require companies to collect and remit taxes on online sales could help make up some of the shortfall.