Brian Higgins

Complicated foreign excise tax for U.S. companies could pose problems for House Republican tax bill

Complicated foreign excise tax for U.S. companies could pose problems for House Republican tax bill

As a House committee on Monday pushed toward a vote on the Republican tax legislation, conservative groups aligned with the wealthy Koch brothers raised concerns about a complicated excise tax proposed for foreign transactions of multinational companies.

Freedom Partners, which is funded by the Koch brothers and its network of donors, compared the proposed excise tax to a controversial border-adjustment tax that they helped kill this summer as congressional Republicans and the Trump administration were crafting the legislation.

“This new 20% tax would apply to cost of goods sold, which could ultimately saddle consumers with higher costs, undermining the economic benefits of...

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