NATSO joined a coalition of more than 120 retailers and trade associations representing millions of jobs in opposing the border-adjustment tax (BAT) proposal in the House Republican’s tax reform plan.
The coalition, called Americans for Affordable Products, opposes the border-adjustment proposal, which would impose U.S. taxes on imports while exempting exports, resulting in higher costs for all goods, including fuel. The increased fuel costs will be especially pronounced in coastal regions, where imported product plays a critical competitive role in keeping maintaining steady supply.
The border adjustment tax will increase the cost of everyday products by up to 20 percent and cost American families as much as $1,700, according to the National Retail Federation (NRF).
In addition to NATSO, other coalition members include Best Buy, Dollar General, Macy’s, Rite Aid and Walmart as well as state and national retail associations.
The border tax adjustment proposal is part of the House’s blueprint for tax reform. The border adjustment aspect of the proposal has so far proven to be highly controversial. The blueprint also proposes lowering the corporate tax rate to a flat rate of 20 percent.
The White House has yet to take an official stance on the border adjustment tax, which is backed by House Speaker Paul Ryan (R-Wisc.).
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