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Wed Dec 7, 2016, 05:57 PM

Koch Industries takes aim at U.S. House Republican tax reform plan

Source: Reuters

POLITICS | Wed Dec 7, 2016 | 5:09pm EST

Koch Industries takes aim at U.S. House Republican tax reform plan

By David Morgan | WASHINGTON

Koch Industries, the private conglomerate owned by billionaire conservatives Charles and David Koch, warned on Wednesday that a Republican tax reform proposal meant to encourage U.S. exports could have devastating effects on the economy and consumers.

The proposal, known as border adjustability, is part of a larger tax reform plan backed by Republicans in the House of Representatives, including Speaker Paul Ryan. It has attracted the attention of advisers to President-elect Donald Trump as a potential tool for creating manufacturing jobs for blue-collar Americans.

But the provision, which would tax imports while exempting U.S. exports from corporate income tax, has raised concerns in the retailing and energy sectors about its potential effects on prices for imported consumer items and foreign goods used in domestic production.

Corporate lobbyists say that Trump's threatened 35 percent import tax against U.S. companies that move jobs overseas could reflect an interest by the president-elect in a border-adjusted approach to tax reform.

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Read more: http://www.reuters.com/article/us-usa-congress-taxes-koch-idUSKBN13W2V2

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Reply Koch Industries takes aim at U.S. House Republican tax reform plan (Original post)
Eugene Dec 2016 OP
Auggie Dec 2016 #1
LonePirate Dec 2016 #2

Response to Eugene (Original post)

Wed Dec 7, 2016, 06:02 PM

1. The 1% is going to set policy, not Trump or the GOP

Congress listens to corporate lobbyists. Trump will go with the flow.

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Response to Eugene (Original post)

Wed Dec 7, 2016, 06:33 PM

2. When the Koch brothers think your ideas are too right wing extremist even for them ...

you have definitely entered Crazy Town!

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