Today in business: 5 things you need to know

The Senate nears a vote on internet sales tax, LG Display's profits dip, and more in our roundup of the business stories that are making news and driving opinion

LG's profits have fallen by 74 percent since last quarter.
(Image credit: David Becker/Getty Images)

1. SENATE PLANS VOTE ON INTERNET SALES TAX

Our final days of tax-free internet spending may be upon us: The Washington Post says the Senate may vote as soon as Monday on whether to give states the authority to collect sales tax on all internet purchases. Introduced by Sen. Mike Enzi (R-Wyo.), The Marketplace Fairness Act would allow states to collect sales tax on out-of-state vendors selling goods to state residents, and could lead to $11 billion a year in added revenue for states. The outcome looks good for Enzi: The Senate already approved the bill in a symbolic vote in March, 75 to 24. [Washington Post]

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us

Carmel Lobello is the business editor at TheWeek.com. Previously, she was an editor at DeathandTaxesMag.com.