BAT Is Dead: Republicans Kill Border Adjustment Tax

The Trump fiscal agenda – which these days really means tax reform – may be dead, but that does not mean it can’t reemerge as a zombie every now and then. That’s precisely what happened moments ago when Paul Ryan just announced that after months of speculation whether border adjustment tax will or won’t be implemented to help offset Trump’s proposed tax cuts, it is now officially dead.
RYAN IS SAID TO BE TELLING REPUBLICANS BORDER TAX IS DEAD: BBG As Reuters adds:
“BIG SIX” REPUBLICANS IN CONGRESS, TRUMP ADMINISTRATION ANNOUNCE BORDER TAX PROVISION HAS BEEN SET ASIDE IN ORDER TO ADVANCE TAX OVERHAUL A statement Thursday from the so-called Big Six – Ryan, Brady, White House economic adviser Gary Cohn, Treasury Secretary Steven Mnuchin, Senate Majority Leader Mitch McConnell and Senate Finance Committee Chairman Orrin Hatch – said due to the unknowns associated with the border-adjusted tax, the group ‘had decided to set this policy aside in order to advance tax reform.”

This post was published at Zero Hedge on Jul 27, 2017.