Top Texan Tax-writer Tries to Salvage Divisive Border Tax Idea by Offering to Phase It in

WASHINGTON — The Texan who leads the House's tax-writing panel is trying to salvage a border adjustment tax proposal that's proved to be a contentious logjam in the GOP's efforts to overhaul the nation's tax code.Rep. Kevin Brady on Tuesday suggested that the measure, which would effectively tax imports but not exports, could be phased in over a five-year period, according to The Wall Street Journal. That would give businesses — and currency markets — time to adjust to the dramatic change."A very gradual five-year phase-in really resolves the major challenges," the chairman of the House Ways and Means Committee told a meeting of the Journal's CFO Network.The move highlights Brady's steadfast commitment to the provision, despite mounting predictions that the idea is already as good as dead.  Continue reading...