Controversial Border Adjustment Tax Explained (Video)

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The president addressed the controversial “border adjustment tax” on Thursday when he told Reuters, “I certainly support a form of tax on the border. What is going to happen is that companies are going to come back here; they’re going to create a lot of jobs and then there’s no tax.”

Then, during the press briefing on Friday, a reporter asked White House press secretary Sean Spicer how the president can assure lower and middle-income taxpayers that they won’t bear the burden of the tax by having to pay more for goods and gas. Spicer answered by saying the border adjustment tax would create more jobs and lift the economy, but he did not provide any assurances from the president about taxpayers bearing the burden.

On Friday morning, it was reported that the president’s chief economic adviser, Gary Cohen, said the president does not support the tax. Hours later, however, the White House nixed his comment.

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Last night, during an appearance on Fox News, former Trump transition team member, Anthony Scaramucci explained the proposed border adjustment tax. Scaramucci said the border tax makes it so more goods are made here in the U.S. He said by taxing goods coming into the country, it provides an equal playing field for American companies to remain price competitive; thus, more jobs will be created here as more companies return to the U.S. to manufacture goods.

Scaramucci admitted there is a debate going on within the Republican Party about whether the tax should be implemented. He said the president wants manufacturing to come back to America and feels confident about the border adjustment tax being worked into the tax code and that Cohen is a team player and will support the president.

Scaramucci did not address whether the tax would cause Americans to dish out more for imports and goods, as a whole.

You can watch the interview here:

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