Retailers holding their breath over what would transpire with the controversial border adjustment tax may be able to breathe a sigh of relief sooner than they thought.
Since the House Ways and Means Committee hearing Tuesday addressing the BAT, that tax seems to be spiraling closer to death.
At the hearing, committee chairman Kevin Brady (R-Tx) touted the tax’s would-be ability to make American manufacturing competitive again, while Target’s CEO spoke out against it, saying it would force the retailer to cut jobs rather than create them in order to survive. But beyond those statements, it became clear just how divided the Republican party is on the issue.
Read more at Sourcing Journal.