Select Page

Excerpt from The Hill:

A Heritage Foundation economist who advised President Trump’s campaign said he doubts a proposal from House Republicans to tax imports and exempt exports will gain traction.

“I think it’s a distraction,” Stephen Moore said Tuesday at an event hosted by Bloomberg BNA.

Moore, who was involved in writing Trump’s campaign tax plan but does not have job in the administration, said he supports the the House Republicans’ “border-adjustment” proposal because he thinks it “takes tariffs off the table.” The proposal is part of the House GOP tax-reform blueprint.

But he noted that other Republican thought leaders don’t support the concept, and said it’s a “pretty prickly issue.”

The border-adjustment provision would raise at least an estimated $1 trillion over 10 years that could be used to pay for other tax cuts. A tax reform bill without the provision would have to have a higher corporate tax rate, Moore said.

The border-adjustment tax has been the subject of intense lobbying efforts in recent months. Some businesses argue that it would improve the business climate for domestic manufacturers, while retailers and oil refiners are concerned that it would lead to higher prices for consumers.

Read more at The Hill

Photo Credit: Gage Skidmore