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Sat Jan 4 12:56:49 UTC 2014


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After holding firm against virtually any kind of tax increase, some congressional 
Republicans have found one that doesn't make them cringe.A contentious bill 
which could come for a final vote in the Senate as early 
as Thursday would empower states to make online retailers collect sales 
taxes for purchases made over the Internet. Though it would likely face 
more resistance in the House, where the anti-tax creed is more pronounced, 
a number of Senate Republicans -- and Republican governors -- are supporting 
the bill.The legislation passed a test vote in the Senate Wednesday, 74 
to 23, with 27 Republicans voting in favor. Senate Majority Leader Harry 
Reid, D-Nev., vowed to pass the bill this week, before senators leave 
for a scheduled vacation.Some of the most powerful anti-tax advocacy groups 
in Washington are still fighting to block the bill. Grover Norquist, president 
of Americans for Tax Reform, warns the bill would set a "precedent 
for further expansions of state-level tax collection authority."He said 
the bill is about "money-hungry state legislators."The Heritage Foundation 
says that "real conservatives" oppose the bill and that it would hurt 
online commerce and force small businesses to jump through new bureaucratic 
hoops.Yet a number of prominent conservatives are voicing support for the 
plan. Under the bill, the sales taxes would be sent to the 
states where a shopper lives. Under current law, states can only require 
online compan
-year 
Treasury note, which has fallen in recent weeks.The Federal Reserve has 
been buying Treasury bonds since the fall. That has helped to lower 
the yield. And in recent weeks, concerns that the U.S. and global 
economies are slowing have led investors to shift money into safer assets, 
like Treasurys, and away from stocks. Greater demand for Treasurys raises 
their price and lowers their yield.The yield was 1.72 percent at midday 
Thursday, up from 1.69 percent last week but still at a historically 
low level.To calculate average mortgage rates, Freddie Mac surveys lenders 
across the country on Monday through Wednesday each week. The average doesn't 
include extra fees, known as points, which most borrowers must pay to 
get the lowest rates. One point equals 1 percent of the loan 
amount.The average fee for 30-year mortgages rose to 0.8 point from 0.7 
point last week. The fee for 15-year loans was unchanged at 0.7 
point.The average rate on a one-year adjustable-rate mortgage fell to 2.58 
percent from 2.63 percent last week. The fee for one-year adjustable-rate 
loans increased to 0.5 point from 0.4.The average rate on a five-year 
adjustable-rate mortgage rose to 2.62 percent from 2.60 percent. The fee 
declined to 0.3 point from 0.5.



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