Feelers are going out to test the waters on a new tax proposal that would become part of the compensation package the government is asking for to supplant the loss of revenues once the exchange commission is removed, with the start of the free trade agreement with the United States. According to Diario Libre, its sources are saying that the new tax package would apply the ITBIS (VAT) tax to everything except the basic family foodbasket. The proposal would also tag on a 15% on bank interest earned from CDs or passbook accounts. On the other side of the ledger, the government will propose that the much debated exchange commission, currently at 13% will be removed over a 24 month period, not at once, as requested by the industrialists, and the businesses will be able to deduct the tax on vacant lots and luxury housing (worth over RD$5 million) from their income taxes. Also included in the new tax effort will be the fusion of the Department of Taxes (DGII) and the Customs Office. The new proposal will be very circumspect regarding electricity and fuels. According to the sources quoted by the newspaper, these will be taxed at rates between 8% and 10% to minimize the effect on family budgets.