Retailers Push Alternatives in a Bid to Kill Border-Adjusted Tax
- J.C. Penney CEO says he’s working with lawmakers on options
- One alternative said to be not cutting corporate rate to 20%
Marvin Ellison, chairman and chief executive officer of J.C. Penny Co., speaks with Greg Sandfort, chief executive officer officer of Tractor Supply Co., before a listening session with Donald Trump at the White House in Washington, D.C., on Feb. 15, 2017.
Photographer: Andrew Harrer/BloombergU.S. retailers are working with lawmakers in the House and Senate to craft alternatives to a proposed tax on imported goods that they say will raise prices for consumers.
“We’re in the process of working with the Hill to give a couple of different alternatives to what we think would be a regressive tax,” J.C. Penney Co. Chief Executive Officer Marvin Ellison said Friday in an interview.