Our outdated tax code needs fixing, but this won’t be accomplished by passing the buck to consumers – which is just what the proposed Border Adjustment Tax would do.
Supporters of the BAT claim it will bring back domestic manufacturing jobs by punishing American companies that import goods. In reality, this tax on everyday products – groceries, gas, and other goods – will increase prices by 20% or more, costing the average family as much as $1,700 in the first year.
We need tax reform – but not if it hurts middle-class families who can’t afford to pay more for essential goods.
– David French, Senior Vice President of Government Relations, National Retail Federation