Schmidt co-sponsors repeal of telephone excise tax

The telephone excise takes about $5 billion out of the economy, year after year. Enacted in 1898 to fund the Spanish American War, repeal of the "Talking Tax" would be a good thing.

Project Logic has the details on Congresswoman Jean Schmidt's co-sponsorship of a bill to repeal the tax. This is a good move on Schmidt's part.

The icing on the cake would be to find $5 billion in spending cuts to offset the revenue that won't be coming in if the bill becomes law. Otherwise we'll just have additoinal deficit spending.