FED DROPS CONTROVERSIAL BORDER ADJUSTMENT TAX.

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Earlier this week, Congressman Henry Cuellar issued a statement after the Trump Administration and GOP leadership sent a joint release stating their decision to drop the controversial Border Adjustment Tax (BAT):
“A border adjustment tax would have meant a $5 trillion tax hike for hard working families. Trade is a major part of the Texas economy, and all Americans depend on a robust trade industry to provide them with affordable goods and services through import and export with other nations,” said Cuellar.
“I’m grateful that the Administra
tion and Republican leadership agreed with me to abandon the BAT that was out of touch with the values of everyday Americans. I will continue working with my colleagues, both Democrats and Republicans, to fix our nation’s tax system to make sure Americans keep more of their hard-earned money and that we bring about policies that encourage small businesses to hire and grow our economy, Cuellar added.”