Ryan’s Border Tax on the Ropes as Trump Ponders Overhaul Plan
- Retailers scored early win, but White House position unclear
- If House plan falters, ‘much bigger food fight’ seen coming
What an Adjusted Border Tax Means for Businesses
This article is for subscribers only.
Donald Trump’s surprising election and his promise to overhaul the U.S. tax code set off celebrations across corporate America -- but some industries had barely applauded before they began gearing up for a fight.
Trump’s win gave Republicans control of the U.S. government for the first time in a decade and quickly drew attention to a tax plan that House Speaker Paul Ryan unveiled last summer with little fanfare. Ryan’s radical tax-code rewrite would replace the corporate income tax with a 20 percent tax on businesses’ domestic sales and imports; their exports would be exempt.