Retailers took their fight against the proposed border adjustment tax to Washington today.
Eight executives from major U.S. firms met with President Trump in a closed-door session to discuss their concerns over the Republican’s tax overhaul, which would mean millions of dollars in additional taxes for companies that import product.
In a statement in the portion of the meeting open to the press, Trump called tax reform “one of the best opportunities to really impact our economy.” He promised a system that will be simpler and one that would save individuals and businesses a lot of money, allowing the latter to employ more people.
The President also addressed regulations, which he said cost the economy $2 trillion a year. He vowed cuts that would reduce them “by massive amounts.”
Read more at Sourcing Journal.