Americans for Affordable Products – a collection of more than 400 businesses and trade associations seeking to stop the Border Adjustment Tax – released the following statement in response to President Donald J. Trump’s tax policy:
“President Trump’s tax plan released yesterday recognizes the concerns of Utah’s business community, and lays the groundwork for true, pro-growth economic opportunity ahead,” said Dave Davis, President of the Utah Retail Merchants Association. “Noticeably absent was any mention of the unpopular Border Adjustment Tax, which, if passed as prescribed, would have a punitive effect on retailers throughout the country. We’re optimistic that with the president’s involvement in this critical endeavor, the likelihood of long-awaited tax reform becoming a reality is finally within reach.”
To obtain a full list of the AAP coalition, click here.
BACKGROUND:
Consumers Will Feel The Pain In Rising Costs From The Border Adjustment Tax:
Consumers Will Be Hurt By The Border Adjustment Tax Costing American Families As Much As $1,700.
Upon passage, the Border Adjustment Tax or BAT will be slapped on everyday necessities costing American families as much as $1,700. (National Retail Federation, Accessed 1/31/17)
Border Adjustment Tax Threatens Largest National Employment Sector Representing One Quarter Of Americans:
PricewaterhouseCoopers LLP: Retail Is The Nation’s Largest Employment Sector Supporting 42 Million Jobs & Representing Employment For One In Four Americans.“Retail is the largest private-sector employer in the United States, supporting one out of every four jobs. A healthy and vibrant retail industry delivers a powerful impact across our economy … Retailers directly provide 29 million American jobs … The retail industry supports a total of 42 million jobs in retail and a host of other industries – 23.4% of total U.S. employment.” (National Retail Federation, Accessed 1/28/17)
Americans for Affordable Products is a coalition of job creators, entrepreneurs, business leaders and consumers united against higher prices on everyday necessities. To learn more, please visit:www.KeepAmericaAffordable.com.
