Tax reform: How would the GOP handle a $1.2 trillion loss?
Posted: Mon Feb 20, 2017 9:21 am
CNN Money - 2/17/2017 - Jeanne Sahadi - The average person doesn't get it. President Trump doesn't love it. Businesses are divided over it. Many lawmakers are dubious about it or just flat out opposed. So it's looking less likely that a border adjustment tax -- which would fundamentally change how imports and exports are taxed -- will be included in the tax code overhaul that Republicans keep promising. If it's not, that will make offsetting the cost of tax reform that much more difficult, since the BAT -- as outlined by House Republicans -- would raise an estimated $1.2 trillion over the first decade and another $1.7 trillion in the second, according to the Tax Policy Center. Read more @ http://money.cnn.com/2017/02/17/news/ec ... ?iid=SF_LN