The United States Senate approved a bill that would extend the moratorium on taxing the internet for another seven years.

The President is eager to sign the bill. Said Bush Friday, “I urge Congress to keep the Internet tax-free — and to get a bill to my desk that I can sign.”

Led by Senators John Sununu, Mitch McConnell, and Ron Wyden, the Senate had to come up with a compromise bill. Some wanted the extention to be shorter than seven years, while others wanted it to become permanent.

The House has already approved a four year ban on internet taxes and will need to work with the Senate on a compromise in order to get a bill sent up to the President to sign.

The last extension, signed in 2004, was for only three years and it expires on November 1.

Internet service providers warned that the cost of internet access could increase by as much as 17% if states were allowed to tax the internet.

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