House Speaker Paul Ryan will head to the National Association of Manufacturers next week to deliver what his team is billing as his first major address on tax reform.
Ryan, R-Wis., will speak Tuesday at the manufacturers' summit as he tries to reach an agreement with the Trump administration and Senate Republicans on a plan for advancing tax reform legislation.
Ryan's own blueprint, released one year ago ago next week, has seen mounting GOP opposition to one of its key provisions: the call to change the corporate income tax to a cash-flow tax that is adjusted at the border.
Unlike some manufacturing trade groups, the National Association of Manufacturers, with 14,000 diverse members, has stayed neutral in that fight.
Automakers, for instance, have campaigned agains the border adjustment idea, which would involve exempting export sales from taxable income but disallow companies from deducting the cost of imported goods. Automakers have raised the fear that they would effectively face a new import tax.
Ryan's office said that his speech will not delve into the intracies of tax reform, but will talk about the realities of tax reform, not just the benefits.
Outside analyses have suggested that the border adjustment feature of the House GOP plan would raise about $1 trillion over 10 years to be used for lowering tax rates. If the border adjustment is taken out of the plan, Congress would have to find some other revenue-raising provision in order to cut rates without adding to the deficit.