Value-Added Tax as a New Revenue Source

Author / Creator

Library of Congress. Congressional Research Service

Available as

Online

Summary

Analyzes proposal to replace all or part of the income tax system with a value-added tax levied on firms at various stages of production. Examines potential revenue yield of the value-added tax, ve...

Analyzes proposal to replace all or part of the income tax system with a value-added tax levied on firms at various stages of production. Examines potential revenue yield of the value-added tax, vertical equity, neutrality, inflation, national savings, administrative cost, and other issues. Indicates the status of pending legislation relating to the new tax.

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