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Getting Rid of Border-Adjusted Tax Creates Other Problems

Experts say cuts may either have to be shallow or short-lived.

By Sahil Kapur, Lynnley Browning and Anna Edgerton, Bloomberg | Updated on July 31, 2017

Republican leaders billed their decision to abandon a controversial plan to tax companies’ domestic sales and imports as an essential step toward uniting their efforts to overhaul the U.S. tax code—but its death adds new complications to an already intricate task.

Though the so-called border-adjusted tax had circled the drain for months, its last gasp on Thursday greatly increased the chances that any tax cuts Congress delivers will be shallower than President Donald Trump and other GOP leaders want, or shorter-lived, experts said. Without the proposal’s estimated $1 trillion in new revenue, a resulting bill may look more like the temporary tax cuts of 2001 than the once-in-a-generation overhaul of 1986 on which Trump and lawmakers have set their sights.

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