Rep. Brady Declares Border Adjustability Still a Priority After Release of Trump’s Tax Proposal
Posted on May 6, 2017 in News
Representative Kevin Brady stated in an interview with WND/Radio America that despite the Trump administration not mentioning the border adjustment tax in its tax reform proposal released two weeks ago, border adjustability was “still a priority.” The chairman of the House Ways and Means Committee characterized the tax as necessary since American “competitors,” including China, Japan...
Congressional Research Service Report on Blueprint
Posted on May 5, 2017 in News
On April 25, 2017, the Congressional Research Service released a report that examines the potential economic impact of the House Republicans’ Blueprint for tax reform. The report addresses considerations related to economic efficiency and growth, distributional issues, revenue effects, and administrative issues, as well as noting that the proposal is likely to violate WTO rules. The...
Border Adjustment Tax Unlikely to be Part of Reform Effort According to Top Senate Republican
Posted on Apr 28, 2017 in News
Senator John Cornyn, the Senate Majority Whip, stated yesterday that the border adjustment tax, proposed by House Republicans, was likely dead. While the Trump administration’s guidelines regarding tax reform advocated for a switch to a territorial system, they did not specifically endorse a border adjustment mechanism. According to Senator Cornyn, enough Republican senators have...
Former Trump Advisors Urge Piecemeal Approach to Tax Reform
Posted on Apr 19, 2017 in News
Former Trump campaign advisors, Steve Forbes, Larry Kudlow, Arthur B. Laffer, and Stephen Moore, urged the Trump Administration and the Republican Party to not attempt to overhaul the entire tax code in one bill. Instead, they advocated first seeking to lower business rates, allow immediate expensing, impose a repatriation tax on overseas profits, and fund infrastructure projects. They...
Border Adjustment Tax May Affect Discount Retailers’ Profit Margins
Posted on Apr 17, 2017 in News
Dollar Tree, and similar discount retailers, rely on imports from countries like China that manufacture inexpensive products and sell at low prices. If the House Republicans impose the border adjustment tax, and imports are taxed at 20 percent, such discount retailers may have to revise their business models in order to maintain their profit margins and continue to be profitable. Read...
The Fading Blueprint
Posted on Apr 12, 2017 in News
U.S. House Speaker Paul Ryan’s tax reform blueprint is facing opposition within the Republican ranks. Both the Whitehouse and the Senate Republicans are preparing alternative plans, with the latter dusting off former House Ways and Means Committee Chairman Dave Camp’s proposed tax reform act as its foundation for new legislation. Read more at: U.S. Tax Reform Debate Moves Away From...