Tags: kevin brady | border adjustment tax | stays | gop | plan

Rep. Kevin Brady: Border Adjustment Tax Staying in GOP's Plan

C-SPAN

By    |   Friday, 16 Dec 2016 09:05 PM

The chairman of the House Ways and Means Committee said in a new interview a controversial slice of the GOP's tax plan is staying put.

Republican Rep. Kevin Brady of Texas told C-Span in a lengthy interview posted online Friday the portion of the plan that would place taxes on imports and would not tax exports is "going to stay."

Brady said other countries already use border adjustments, which "gives them the price advantage over us here in America."

"Today, we lose both here in America and we lose around the world," he said. "That can't stand. This is a key part of our built-for-growth tax code, it's going to stay."

The discussion about border adjustments begins around 6:00 into the interview.

Brady added that Republicans want to talk with businesses who rely heavily on imports "and find solutions with" them.

"We want a tax plan that is built for growth across this country," said the 61-year-old, who has served in the House since 1997. "We want to listen to those solutions. Our door is open.

"We think it's important, though, for everyone to understand that we cannot leave in place any tax policies that encourage our companies to move their operations overseas, just to sell back in the United States. Those won't stay."

Not all Republicans are on board with the provision, however. Koch Industries, run by the powerful Koch brothers who have donated millions to conservative candidates and causes, said last week it could be "devastating" to the U.S. economy.

"While companies like Koch who manufacture and produce many products domestically would greatly benefit in the short term, the long-term consequences to the economy and the American consumer could be devastating," said Philip Ellender, Koch's president of government and public affairs.

Other critics of the provision say it will unfairly penalize companies whose business models rely on imports to stay afloat.

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The chairman of the House Ways and Means Committee said in a new interview a controversial slice of the GOP's tax plan is staying put.
kevin brady, border adjustment tax, stays, gop, plan
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2016-05-16
Friday, 16 Dec 2016 09:05 PM
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