Tax Reform Possible Despite Border Adjustment Opposition
By Vidya Kauri (February 23, 2017, 10:25 PM EST) -- Despite growing opposition from retailers and within the GOP's own ranks to a tax reform blueprint that would disallow deductions for import costs, experts are hopeful that a compromise going beyond mere tax cuts is possible.
The so-called border-adjustability tax, or BAT — the centerpiece of House Republicans' plan to overhaul federal tax laws — would not tax income from exports, and concerns have been raised that it could attract retaliatory protectionist measures from other countries and legal challenges on that grounds that it may not be compliant with rules established by the World Trade Organization.
Heavyweight retailers and conglomerates such...
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