TAX TIME: As Americans rush to file taxes by today’s deadline, calls for a national sales tax were made again at a news conference on Capitol Hill Thursday. The FairTax legislation, sponsored by Rep. John Linder (R., Ga.) and Sen. Saxby Chambliss (R., Ga.), failed to get committee consideration last year and was reintroduced in the House in January. It would replace federal personal and corporate income, payroll and other taxes with a 23 percent personal consumption tax on retail sales of goods and services. Sandy Kennedy, president of the Retail Industry Leaders Association, which has 600 members, including Wal-Mart and Gap, said in a statement: “The new tax would significantly depress retail sales and damage the economy by sharply curtailing consumer spending.” FairTax has 54 co-sponsors, but is not seen to be on a fast track to becoming law.
NEW NIKE DIRECTOR: Nike Inc. named former Microsoft Corp. chief financial officer John G. Connors to its board on Thursday, bringing the number of directors to 11. Connors, 46, spent 16 years at Microsoft before retiring in January. He subsequently joined Ignition Partners LLC, a venture capital firm established by former Microsoft and McCaw Cellular executives that invests in early stage software and technology companies. It is anticipated Connors will serve on Nike’s audit committee, the company said.