Newt Gingrich says a border-adjustment tax is a must-take "right first step" to reform the nation's tax system.
In an op-ed for Fox News, the former Georgia lawmaker and speaker of the House said tax reform is "the key to President [Donald] Trump's success."
"Tax reform will provide the boost in jobs and production President Trump and Republicans in Congress need to build legislative momentum and implement the president's infrastructure plan," he said. "Republicans will then be able to move from a clear position of strength as they deliberately and methodically rebuild our health care system."
But Congress should take "the first major step."
"Speaker Paul Ryan has has a plan that will do these things through a border adjustment tax, which is the right first step toward tax reform," he said.
The "current tax system is essentially designed to drive production out of the United States," he argued, and a border-adjustment tax would make the U.S. tax system more similar to the tax systems in other countries.
"With a border adjustment tax, we would tax imports — just like more than 160 other countries that have either a value-added tax on imports, a border adjustment tax, or both," he said.
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