Trump Warms to House Republicans’ Proposed Border-Adjusted Tax
- He doesn’t like the word ‘adjustable,’ official says
- Proposal to tax imports has helped sink relations with Mexico
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President Donald Trump is warming to a congressional Republican proposal that would replace the U.S. corporate income tax with a levy on companies’ imports and domestic sales, even though he had recently criticized the idea as too complicated, a senior administration official said.
The Republican proposal, which enjoys broad support among members of the party in the House of Representatives, is known as a border-adjusted tax. Exports would be exempt from U.S. taxes, under the plan, and proponents say it would discourage companies from moving their headquarters offshore.