Get prepared to finally pay the real price for imported items not made in America. The Border Adjustment Tax is the latest legislation in the United States now that the proposed 0Obamacare alternative is entirely off the table.
The issue? The BAT doesn’t quite define how products in America will be poised to either rise or fall in terms of prices. One thing is for certain: it seems to benefit big companies more than anything.
So what is it?
– Its a bill that heavily lifts taxes on those that export goods.
It’s a bill that would and sometimes by accident levy higher taxes against unknowing recipients.
It’s a bill that would raise taxes steeply for those importing goods.
Boeing, Merck, and Dow Chemical that export many of their products are big fans of the proposed BAT bill.
People like Walmart oppose the measure as they argue it would cause the prices of their business to rise while others fell.
Meanwhile, one thing is certain that this bill would cause prices of everyday items for Americans to rise.