Democrats and the GOP are working together on a bill in Congress to resolve the online sales tax issue. The latest iteration of the bill looks likely to be finalized and sent to President Obama's desk this year. With online sales now repping more than 5% of all of retail sales, states will bring in significant revenue while larger Internet-based retailers will lose some pricing power. Though Amazon (AMZN -1.4%) is the obvious target to take a hit - that expectation could already be baked into its share price - and it could be smaller Internet shops such as Blue Nile (NILE +1.2%) or Overstock.com (OSTK +0.2%) which feel the pain.
Democrats and the GOP are working together on a bill in Congress to resolve the online sales tax...
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