Congress OKs no Internet taxes

WASHINGTON (AP) — A bill to extend a moratorium on Internet access taxes for seven years was approved 402-0 by the House Tuesday, less than two days before it was set to expire.

The House initially approved a four-year ban, but last week the Senate passed a seven-year prohibition, despite considerable support for a permanent ban.

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CNNMoney’s Jim Ledbetter talks with Fortune’s Oliver Ryan about the impact Web sites like YouTube may have on the presidential race.

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“Seven years is better than nothing, and that’s what we’re doing today,” said Rep. Fred Upton, R-Mich, during remarks on the House floor.

A House bill that would make the moratorium permanent has 238 House co-sponsors, more than a majority.

The tax ban, first approved in 1998 and twice renewed, is set to expire Nov. 1.

Support for a permanent ban was strong in both the House and Senate, but concerns over the potential long-term impact on state and local governments forced a compromise.

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