Melvyn Krauss, Columnist

A Bad Way to Pay for Trump's Corporate-Tax Cuts

A border tax adjustment could cost U.S. consumers $1.2 trillion.

February 21, 2017 at 11:30 AM UTC

Melvyn Krauss is a senior fellow at the Hoover Institution at Stanford University and an emeritus professor of economics at New York University.

His plan could cost you.
Photographer: Chip Somodevilla/Getty Images

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Republicans in Congress have come up with what they think is a great way to pay for President Trump's corporate-tax cuts: a so-called border tax adjustment, which would provide a rebate for exports while placing an added duty on the country's much larger volume of imports.

Actually, this gift to companies would come straight out of the pockets of American consumers.