Stivers raises concerns over BAT Tax
AAP Thanks Representative Stivers for Raising Concern with Border Adjustment Tax
As NRCC Chairman and Local Representative of National Retailers, Stivers Has Significant Responsibilities to Protect Party and Constituents from Harm
Columbus, Ohio – On April 13, during an interview with CNBC, Representative Steve Stivers (R-OH) raised his concerns with the Border Adjustment Tax (BAT), a component of House GOP tax reform plans led by Speaker Paul Ryan (R-WI), saying the policy is “probably not [World Trade Organization] compliant” due to its affront to the free-market and standing trade agreements.
As a Member of Congress representing Ohio, Stivers is responsible for advocating on behalf of major retailers like Big Lots and Abercrombie & Fitch, which are headquartered in his state and are members of Americans for Affordable Products, a coalition of more than 400 businesses, retailers, trade associations and more united to stop the BAT and its resulting higher prices on every day necessities like food, clothing, medicine, gasoline and more.
If passed, the BAT would impose a 20 percent tax on all imported goods, and could result in American consumers spending an additional $1,700 per year on basic necessities.
“We agree with Congressman Stivers’ concern with the Border Adjustment Tax, which we believe would be very damaging to a wide range of retailers in Ohio and across the country, as well as the customers they serve,” said Robb Giammatteo, executive vice president and CFO of ascena retail group, inc., owners of Lane Bryant and Justice. “We believe that if implemented, the Border Adjustment Tax will result in broad cost increases that will be passed along to customers, which could further disrupt our rapidly changing sector, and create widespread job risk as retailers are forced to cope with a fundamentally changed financial model.”
In addition to his role as congressional representative for major retailers, Representative Stivers is Chairman of the National Republican Congressional Committee (NRCC), and is responsible for maintaining and growing the House Republican majority.
In a recently released national poll conducted by The Tarrance Group of 800 likely voters from April 2-5, 2017, a majority (56%) of voters say they would be less likely to vote for their Member of Congress if their Member of Congress voted in favor of the Border Adjustment Tax.
“Ohio is home to multiple retail headquarters that rely on imports and the Border Adjustment Tax will have a major impact on their businesses and the Ohioans that they employ,” said Mike Watts, vice president of tax for Big Lots. “As this survey finds, consumers are rightly worried about how this tax will unfairly hit their pocketbooks.”
The BAT would be felt immediately in the pocketbooks of middle-class Americans, effectively amounting to a $1 trillion tax that would punish employers, consumers, and the American economy.
Americans for Affordable Products is a coalition of job creators, entrepreneurs, business leaders and consumers united against higher prices on everyday necessities. To learn more, please visit: www.KeepAmericaAffordable.com.
To schedule an interview with an Americans for Affordable Products representative, please email press@KeepAmericaAffordable.com.