Utah business leaders are speaking out against the Border Adjustment Tax, with its potential to increase prices on everyday items such as food, clothing, and gasoline.
Across the country, members of the Americans for Affordable Products coalition are united to stop the BAT and its resulting higher prices for consumers. Americans for Affordable Products supports comprehensive tax reform and encourages Congress to implement policies that will help businesses of all sizes.
“If passed, the Border Adjustment Tax could seriously hurt Utah businesses and kill local jobs,” said Dave Davis, President of the Utah Retail Merchants Association. “It will also drive up the cost of everyday living, drastically hurting American consumers. We need our elected officials to protect Utahns against this misguided tax policy and support the middle income and working class families by leading on tax reform that will grow our economy and create jobs.”
“As a retail business with franchisees in the state of Utah and nationwide, we support tax reform, but not this one as it is currently written,” said Ryan Laws, President of Pro Image Sports. “The Border Adjustment Tax could have a significant impact on our franchise owners, their employees, and families.”
Earlier this week, Americans for Affordable Products responded to President Donald Trump’s address to Congress:
“We applaud President Trump for working to reform an obsolete tax code in order to create an environment with greater job and economic growth for America’s working families. As the debate unfolds on tax reform, it is evident that more and more Members of Congress do not support the Border Adjustment Tax, which would reward multinational companies with a permanent tax holiday while asking working families to foot a trillion-dollar bill. Middle-income households did not vote last November for $1,700 in additional costs for basic necessities such as gasoline, clothes and medicine so that profitable companies already exploiting tax loopholes can operate virtually tax free. Our coalition – which represents America’s largest employment sector or nearly one in four jobs – will not rest in our work to convince Congress it should listen to its constituents, not special interests, and oppose the Border Adjustment Tax,” said Joshua Baca, a spokesperson for Americans for Affordable Products.
The BAT is a component of the U.S. House Republican tax reform proposal, and will significantly hurt American consumers and many employers by increasing the cost of everyday products by up to 20 percent.
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.
