Koch Industries takes aim at US House Republican tax reform plan – Reuters


By David Morgan

WASHINGTON Koch Industries, the private conglomerate owned by billionaire conservatives Charles and David Koch, warned on Wednesday that a Republican tax reform proposal meant to encourage U.S. exports could have devastating effects on the economy and consumers.

The proposal, known as border adjustability, is part of a larger tax reform plan backed by Republicans in the House of Representatives, including Speaker Paul Ryan. It has attracted the attention of advisers to President-elect Donald Trump as a potential tool for creating manufacturing jobs for blue-collar Americans.

But the provision, which would tax imports while exempting U.S. exports from corporate income tax, has raised concerns in the retailing and energy sectors about its potential effects on prices for imported consumer items and foreign goods used in domestic…


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