Relevant:
- Ryan tries to save tax plan; Trump pushes tax reform with retailers
- GOP Finds Comprehensive Tax Reform is Hard
- Trump may force government shutdown over border wall spending
- Trump team walks back plan to fund wall with import tax
- White House suggests it will back down on $5 billion border wall demand
2017-07-27 — zerohedge.com
A statement Thursday from the so-called Big Six - Ryan, Brady, White House economic adviser Gary Cohn, Treasury Secretary Steven Mnuchin, Senate Majority Leader Mitch McConnell and Senate Finance Committee Chairman Orrin Hatch - said due to the unknowns associated with the border-adjusted tax, the group "had decided to set this policy aside in order to advance tax reform."
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As for BAT being gone, it means that any Trump tax cuts - a generous assumption these days - will be that much smaller as the border adjustment tax was expected to raise roughly $1.2 trillion in government revenue over the next decade, offsetting over half of the corporate tax cut over a ten year period. In other words, so much for corporate tax cuts.
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