Border adjustment tax far from a done deal
May 24, 2017
Target CEO Brian Cornell testified that his company’s tax rate would jump from 35 percent to 75 percent if a Republican-backed proposal for a border adjustment tax (BAT) was enacted. Mr. Cornell said Target is the second largest importer of foreign goods in the U.S. and that about half of what it sells comes from other countries. The result of BAT becoming law would be higher prices for American consumers, he said.
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