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USTelecom lauds president's budget proposal for FET repeal

The administration's 2008 budget, released Monday, proposes to repeal the federal excise tax on communications services. USTelecom CEO Walter B. McCormick Jr. applauded the move, saying: "The federal excise tax on communications is regressive and outdated and should be repealed immediately. While the IRS no longer enforces the tax on long distance or bundled services, consumers who subscribe to stand-alone local service should also be relieved of this arbitrary tax."