OLYMPIA, Wash., May 22, 2017 /PRNewswire-USNewswire/
-- Ahead of Tuesday's House Ways and Means Committee Hearing
on the Border Adjustment Tax (BAT), Americans for Affordable
Products (AAP), a national coalition of more than 500 small
businesses, retailers and trade associations united to stop the
BAT, announced the launch of its local campaign to educate
lawmakers and citizens about the harmful effect the proposal will
have on the state of Washington.
AAP is calling upon Washington's entire congressional delegation
to oppose this ill-advised policy that will not only make everyday
goods more expensive for Washington residents, but it will make it even
harder for job creators to do business in the state. House Ways and
Means Committee Member Dave Reichert will play a critical role
ensuring this bad policy never becomes law.
"An exorbitant amount of financial stress will be placed on
retailers, particularly small retailers if the Border Adjustment
Tax becomes law," said Jan Teague,
President and CEO of the Washington Retailers Association. "It will
force retailers to raise prices, lay off employees and possibly
shut their doors. The Border Adjustment Tax could decimate thriving
commercial corridors throughout Washington and the
United States."
The BAT will increase the costs on everyday essentials that
Washingtonians rely on, like food, clothing and medicine, by
$1,700. It would have devastating
consequences on the retail industry, which supports 42 million jobs
in the United States. Costco,
Zulily, Columbia Sportswear, and the Washington Retail Association
are members of the coalition.
"This Border Adjustment Tax will raise prices that U.S.
consumers, not foreigners, will have to pay, and if it's successful
in driving up the value of the dollar as supporters claim, it will
hurt US exports", said Bill Bryant,
former Republican candidate for Governor and Chairman of
Bryant Christie, Inc., an
international firm that helps U.S. food, agriculture and beverage
businesses export their products. "It is likely a precursor
to a national sales tax and to retaliation by our trading
partners," Bryant continued, and encouraged the House Ways and
Means Committee should reject the idea.
The BAT will also have a devastating impact on any business that
exports. Schweitzer Engineering Laboratories, a company that
produces high-technology equipment for utility and industrial
electric power systems worldwide in Pullman, Washington and Lewiston, Idaho, ships products to their plant
in Mexico that are installed into
the large control and protection panels used by the national
electricity utility of Mexico and
customers in more than 20 countries.
President of Schweitzer Engineering Laboratories Edmund O. Schweitzer, III believes the Border
Adjustment Tax will damage trade relationships and end up hurting
American businesses, workers, and consumers.
"If the U.S. were to impose a Border Adjustment Tax, then it's
likely that other countries would retaliate, damaging U.S. exports.
In this scenario, both countries lose," Schweitzer
said.
Americans for Affordable Products is a coalition of job
creators, entrepreneurs, business leaders and consumers united
against higher prices on everyday necessities. To learn more,
please
visit:
www.KeepAmericaAffordable.com.
Additional Information:
- Video: Columbia Sportswear CEO Opposes the Border Adjustment
Tax
- Press Release: AAP Grows to More Than 500 Strong
- Background: AAP Coalition Membership
To schedule an interview with an Americans for Affordable
Products representative, please email
press@KeepAmericaAffordable.com.
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visit:http://www.prnewswire.com/news-releases/americans-for-affordable-products-launches-local-campaign-in-washington-ahead-of-tuesdays-ways-and-means-committee-hearing-on-border-adjustment-tax-300461633.html
SOURCE Americans for Affordable Products