6/13/2017

BORDER/TRADE DEALS: “The top House Republican tax legislator floated a five-year phase-in to his controversial ‘border adjustment’ idea on Tuesday [6-13-17] in a bid to blunt mounting opposition to the concept.
The phase-in offered by Rep. Kevin Brady (R., Texas) is a response to critics who worry about the disruption that border adjustment could cause for companies, supply chains and consumers. It is a sign that Mr. Brady continues to press ahead with border adjustment and refine details of that plan rather than drop the proposal as some Republicans are urging.
‘This reflects really the input we’ve gotten, the feedback we’ve gotten,’ Mr. Brady, the chairman of the House Ways and Means Committee, said at the annual meeting of The Wall Street Journal’s CFO Network. ‘A very gradual five-year phase in really resolves the major challenges.’
Mr. Brady also said his plan would include targeted rules for the financial services, insurance, communications and digital-services industries.”

-Richard Rubin, “GOP Lawmaker Floats 5-Year Phase-In of Border Adjustment Tax,” The Wall Street Journal online, June 13, 2017 11:33am