News / Article

Retailers go to Congress to squash proposed border tax

Source: usatoday.com - Feb 15, 2017

Several of the nation's major retailers will meet with lawmakers Wednesday in hopes of thwarting a proposed import tax that they fear will wipe out profits and potentially lead to consumers paying more for items ranging from clothing to cars.

The House Ways and Means Committee confirmed that its chairman, Rep. Kevin Brady, R-Texas, will meet with retail executives about a GOP plan that would require U.S. companies to start paying taxes on what it costs them to import products from abroad.

The group convening in Washington includes executives from AutoZone, Tractor Supply, Jo-Ann Fabric and Craft Stores, Target, Best Buy, GAP and JC Penney.

CLICK SOURCE BOVE TO READ ENTIRE ARTICLE

Category: General Business