Senate Majority Leader Harry Reid, D-Nev., announced late Thursday that an agreement has been reached on the Marketplace Fairness Act and a final vote will be scheduled for the week of May 6.

The online sales tax bill would require states to collect taxes from internet retailers who don't have a physical presence in the state. Currently, most online sales are tax-free, which supporters of the measure claim give them a big advantage over brick-and-mortar businesses.

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