President Barack Obama does not support implementing a value-added tax (VAT) in the United States, Treasury Secretary Tim Geithner said Thursday.
Geithner’s statement comes one day after Obama said that a VAT would be a “novel idea,” leaving the door open for it to be implemented.
“The president does not support [it], but we all recognize that our deficits are too high and we’ve got to bring them down,” Geithner said in an interview on MSNBC.
Full story: Geithner: Obama ‘does not support’ the VAT for the U.S. – The Hill’s Blog Briefing Room