Retailers are wary of a GOP plan that could increase taxes on imported goods
Retailers are wary of a GOP plan that could increase taxes on imported goods
Tax reform is floating toward the top of the agenda on Capitol Hill. Since Republicans will control both houses of Congress and the White House, they’ll presumably have a better shot at passing sweeping tax reforms for individuals and corporations. One corporate tax proposal House Republicans brought back in June is now getting a lot of pushback from lobbyists for big retailers. It would impose a new tax on imports, like apparel, furniture and appliances that retailers buy very inexpensively abroad and sell pretty cheaply to consumers here in the U.S.
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