Excerpt from The Hill:
For far too long, America’s tax code has worked against businesses and consumers. With President Trump in office and a Republican-controlled Congress, there has never been a greater opportunity to pass comprehensive tax reform. Employees and employers deserve a tax system that works for them, and it’s Congress’ responsibility to get the job done.
Unfortunately, members of the U.S. House of Representatives leadership have proposed a policy, the Border Adjustment Tax (BAT), that doesn’t level the playing field; instead, it picks winners and losers and, in the process, threatens the passage of tax reform.
As skepticism surrounding the misguided BAT builds and more and more Republicans state they cannot support a policy that results in $1,700 in additional costs for American families, House leaders are doubling down. Just this week, a new plan emerged (let’s call it BAT 2.0) that would gradually phase in the potential tax on working families over the course of five years.
While this would ease the political cost for members of Congress, it would do nothing to lighten the costs on middle-class households operating on shoe-string budgets.
Read more at The Hill