This Key Tax Proposal Is on ‘life Support' Or Just Getting Started — Depending on Which Texan You Ask

WASHINGTON — A vital part of the House GOP’s tax overhaul may already be on “life support” amid concerns it will ding consumers. Or backers may just need more time to explain the merits of “border adjustments,” an idea they pitch as an end to a “made-in-America tax.”The perspective depends on which Texan you ask — no matter if it’s a congressman or a company. And who’s right may help determine whether the much-ballyhooed push to revamp the nation’s complicated tax code can make it through the grinding Washington machine.“Every week and month we wait, America is falling further behind,” said Rep. Kevin Brady, a Republican from The Woodlands who’s leading the tax plan’s rollout.The impasse again highlights just how difficult it can be to upturn D.C., even when there are profound effects at stake for taxpayers in Texas and beyond.The challenge is also evident in high-profile policy debates over health care, infrastructure and financial regulations. The tax fight still stands out in GOP-run Washington for the many battle lines, some drawn by Texans, that have emerged over a single provision.Brady has been joined by corporate heavyweights like GE and Irving-based Celanese in touting border adjustments. But Texas Sen. John Cornyn has teamed with other senators in throwing cold water reflecting the chill from big retailers like Plano-based J.C. Penney.And even as President Donald Trump has offered muddled hints that he might get on board with the idea, some key officials wonder if the clock is already running out.“The hard reality is the border tax is on life support,” Cornyn told Bloombergthis month.  Continue reading...

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