President-elect Donald Trump “criticized a cornerstone of House Republicans’ corporate-tax plan, which they had pitched as an alternative to his proposed import tariffs, creating another point of contention between the incoming president and congressional allies,” the Wall Street Journal reports.
“The measure, known as border adjustment, would tax imports and exempt exports as part of a broader plan to encourage companies to locate jobs and production in the U.S. But Mr. Trump, in his first comments on the subject, called it ‘too complicated.'”
Playbook: “Put simply, this complicates tax reform, the already complicated cornerstone of what’s supposed to be a unified Republican legislative agenda. Even many of the Trump loyalists can’t wrap their heads around Trump’s ‘border tax,’ which they see as punitive for corporations and consumers, not to mention a political liability. GOP opposition has been staked out pretty firmly, and we don’t think many members of Congress will back off of it.”
Save to Favorites