President-elect Trump says he will revisit a House Republican tax plan during his first few months in office that he initially dismissed as “too complicated.”
Trump had told the Wall Street Journal last week that border-adjustment, an element of the tax-reform plan put forth by congressional Republicans that would promote exports and discourage imports, was too complex and not something he was interested in pursuing.
“Anytime I hear border adjustment, I don’t love it,” he had said. “Because usually it means we’re going to get adjusted into a bad deal. That’s what happens.”
But in an interview with Axios on Tuesday, Trump said the border adjustment element is “certainly something that’s going to be discussed.”
“I would say, over the next month-and-a-half, two months, we’ll be having more concrete discussions. Right now, we’re really focused on healthcare more than anything else,” he noted.
As it stands now, the House Republican plan would levy a tax on goods made overseas but sold in the U.S., while exports would be exempt. Those backing the border adjustment tax claims it would incentivize American companies to relocate or keep production facilities inside the United States.
The measure would generate an estimated $1 trillion in revenue over 10 years, according to the nonpartisan Tax Foundation.
