Congress abandons border adjustment

by
July 28, 2017

Steven MnuchinBorder adjustment is officially dead as part of Republicans’ tax plan.

Congressional Republican leadership and the Trump administration said Thursday afternoon that the idea of adjusting corporate taxes at the border won’t be part of their planned tax code overhaul, abandoning the idea in order to build momentum for the legislative effort.

“While we have debated the pro-growth benefits of border adjustability, we appreciate that there are many unknowns associated with it and have decided to set this policy aside in order to advance tax reform,” the Republicans said.

The statement was issued jointly by the “Big Six” Republicans who have been meeting regularly in recent months to hammer out a unified GOP tax reform

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