ECONOMY

IMF Report Urges Federal Sales Tax: The International Monetary Fund’s annual report says the United States should consider the tax to reduce its budget deficit. The review said that with such a tax, the United States could encourage consumers to save more and spend less and could reduce its need for foreign investors to finance the deficit through Treasury bond purchases. The far-reaching review, covering the year ended April 30, said the IMF’s executive directors all agreed that the United States should move further to deal with its deficit.