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Posts Tagged ‘border tax adjustment’

Republicans Working to Kill Trump’s Proposed Import Tax

Many believe it will raise prices and eliminate jobs.

by on Feb.15, 2017

President Trump's proposed tax on goods coming into the U.S., particularly cars and trucks, may get squashed by Congressional Republicans.

Republican Senators are growing increasingly cool to the idea of imposing a “border tax” on goods, including cars and trucks, exported to the U.S. from other countries in the Americas, Europe and Asia.

According to The Hill, a Capitol Hill newsletter and website, House Speaker Paul Ryan has met with Republican senators to neutralize the growing opposition to a core element of a tax plan cobbled together by Republicans in the U.S. House of Representatives who hope to advance President Donald Trump’s agenda.

News Now!

A 20% across-the-board tax on imports, also known as border adjustment, has become part of Trump’s plans to push companies to do more manufacturing in the U.S. Trump has threatened various auto makers, including General Motors, Ford Motor Co. and Toyota, with the border tax because they now build vehicles in Mexico. (more…)