Trump Dings House GOP Tax Idea That's Already Stirred Up Texas Business Groups

WASHINGTON - A critical component of the House GOP's tax overhaul - designed to boost corporate investment in the U.S. - is stirring up Texas' business community. And that was even before President-elect Donald Trump dinged the idea. At issue is the plan's reliance on "border adjustments," which would effectively tax imports but not exports. The proposal has drawn backlash from retailers, refiners and other import-reliant groups, who say it would drive up their costs. And Trump, who favors instead a "big border tax," has now told The Wall Street Journal that the adjustments are "too complicated." "Anytime I hear border adjustment, I don't love it," the Republican said in an interview published on Monday. "Because usually it means we're going to get adjusted into a bad deal." The presidential broadside could have severe implications, given that the border adjustments are crucial to paying for the House GOP's broader plan. And Trump's strong take will likely further jumble the many Texas ties to the tax debate.  Continue reading...