Americans for Affordable Products (AAP), a coalition of more than 150 businesses and trade associations, is asking Senate Finance Committee Chair Orrin Hatch and Sen. Mike Lee to “protect their constituents from the harmful repercussions of the Border Adjustment Tax.”
“We urge Senator Hatch to lead on tax reform to ensure that our economy grows and creates jobs; however, including the Border Adjustment Tax in any tax reform package will seriously jeopardize the prospects of implementing these much needed reforms,” said Dave Davis, President of Utah Retail Merchants Association. “Senator Hatch has the opportunity to save tax reform and ensure policies are implemented in the tradition of Ronald Reagan. We also thank Senator Mike Lee for his defense of Utah consumers against this misguided tax policy and his willingness to protect the household budgets of average Utahns.”
Sen. Hatch has raised concerns on the issue about the proposed plan in the U.S. House. Given Senator Hatch’s leadership role as Chairman of the Senate Finance Committee, “We are encouraged that after studying this provision he will reach the conclusion that the proposal is bad for Utah and bad for the U.S. economy” said Davis. Also, Senator Lee is worried BAT “could ravage huge swaths of our economy.”
The BAT is a component of the U.S. House Republican tax reform proposal, and will significantly hurt American consumers and the nation’s largest employers by increasing the cost of everyday products by up to 20 percent.
“Utahns expect their elected officials in Washington to work on meaningful tax reform now. However, the inclusion of a Border Adjustment Tax would seriously threaten the possibility for real reform,” said Evelyn Everton, State Director, Americans for Prosperity Utah. “We commend Senator Lee for his commitment to oppose this policy that would increase consumer prices and distort markets. We also applaud Senator Hatch for raising concerns and hope he ultimately opposes this policy and instead focuses on tax reform which produces strong economic growth.”
If enacted, BAT could increase prices on a wide range of basic, everyday items like food, gas and clothing.
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.
