AAFA on the Border Adjustment Tax: Last Tuesday the House Ways and Means Committee held a public hearing regarding the pros and cons of a Border Adjustment Tax (BAT), and its potential impact on the economy, U.S. companies, and U.S. consumers as part of corporate tax reform. AAFA submitted comments showcasing how the BAT would impact the apparel and footwear industry.

 

While the committee's Republican leadership still seemed inclined towards including a BAT, interestingly the majority of the Rank and File members (on both sides of the aisle) seemed to have major concerns that were not adequately appeased by the pro-BAT panelists.

 

This is certainly an important development, however it does not mean that BAT is done. Here are ways you can help end the BAT and stay informed: 

• Join more than 14,000 colleagues and send a letter to your legislator; 
• Voice your opinion during meetings with Members of Congress, and share our handout showing the potential impact on our industry;
• Join us in NYC next week during our annual Sourcing Conference on June 7-8, during which we'll have a town hall-style session discussing the latest happenings in Washington.