Echoing the concerns expressed by small business owners, taxpayers, and conservative activists, a Texas congressman is opposing the creation of a “border adjustment tax” at a time when Republicans have promised to cut taxes.
U.S. Rep. Roger Williams (R-Weatherford) recently told Bloomberg that the tax being pushed by the GOP leadership is a “nonstarter with me because it’s a tax increase.”
“I’ve been one of those from day one who has not been supportive of it,” said Williams. “Small business and mainstream America is ready to be released of these highest taxes in the world.”
Williams said tax relief can be achieved by cutting spending, not imposing new taxes. A small business owner, Williams has proposed a tax relief plan to “jumpstart America.” His plan would reduce personal and corporate tax rates, cut the capital gains and dividend taxes, and eliminate the inheritance tax, among other actions.
His stance against the Boarder Adjustment Tax being praised by the influential Club for Growth.
“Congressman Williams has just given his colleagues in Congress the core principles of pro-growth tax reform: cut taxes, cut federal spending, and reject the Border Adjustment Tax,” said Club for Growth president David McIntosh. “With the House of Representatives now framing the legislative language for historic tax reform, Rep. Williams’ message – don’t cut taxes, and then raise them by creating a BAT – should be echoed by every Republican in Congress. We hope Rep. Williams’ constituents will thank him for emphasizing the proven formula that cutting taxes leads to economic growth that will create more taxpayers.”
The Border Adjustment Tax has been proposed by U.S. Rep. Kevin Brady (R-The Woodlands) as a way to make up lost revenue from other tax cuts.