GOP Has No Tax Plan B Without Border Adjustment, Rep. Says

Law360, Washington (May 18, 2017, 1:31 PM EDT) -- The centerpiece of the House Republican leadership's tax plan, a so-called border-adjusted tax based on money made in the U.S. regardless of where a company is based, is too deeply ingrained in the overall proposal to effectively remove, the Ways and Means Tax Policy subcommittee chair said Thursday.

Rep. Peter Roskam, R-Ill., said the House GOP tax plan first floated last summer has many different interconnecting parts meant to reform a badly out-of-date tax code that must be fixed to prevent "erosion" of the tax base, especially from corporations parking their assets and operations overseas. At a tax reform panel in...

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