The Nation - News from May 23, 1985
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President Reagan will have to consider vetoing the Superfund renewal bill if it contains a value-added tax on manufacturers, Environmental Protection Agency chief Lee M. Thomas said. Such a tax is in the version of the bill approved last week by the Senate Finance Committee. A value-added tax is a levy on the difference between the receipts of a business and the cost of its raw materials. Such taxes are widely used in Western Europe but have never been imposed in the United States.
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