* Texas - Border adjustment tax worries truckers
--- Bringing our tax rates in line with worldwide norms, among other reforms, will help keep and grow American jobs and our economy, and keep freight moving. But a border adjustment tax, or BAT, could serve as a national sales tax on imports, and thus it’s a concern to not only employers and workers but to each and every consumer and family in the U.S. ... Tax reform can and should be paid for by cutting government spending. Proponents of a BAT will argue that the dollar will rise once it’s implemented and increase consumer-spending power. The fear is that this conceptual view ignores the realities of global economics: Even if other nations don’t retaliate against the U.S. for implementing a BAT (highly unlikely), it could still take years for the dollar to appreciate to the level needed to offset a BAT’s impact. Without question, however, is that consumers will suffer the immediate consequences...
(Photo: Truck driver Jesse Parks prepares to board a Peterbilt tractor rig in 2014 at Reynold’s Nationwide trucking near China Grove) -- San Antonio, TXS, USA - My SA, by John D. Esparza - May 21, 2017Labels: taxes debate, trucking industry news USA
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