“One of these promises has been for comprehensive tax reform to jump-start the American economy and keep more money in the wallets of hard working Americans,” AFP said in a recent news release, calling on Republicans to pass a suitable tax reform “that would benefit all Americans.”
Thus far, there has been a House proposal; however, AFP thinks it will negatively impact everyday Americans.
“The current proposal has a 'border adjustment tax' that would be a 20 percent tax that would be placed on every good imported into the United States,” the release said. With this 20 percent proposed tax, company and consumer prices would also inflate.
“While many Americans have yet to see a raise since the great recessions the first tax reform proposed by Republicans in 2017 would raise costs on those who could least afford it,” the press release said.
While the organization outlined the negative 20 percent tax, it noted the proposal would "slash the highest in the world corporate tax rate.”
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