Page 13 - Border Adjustment News Today : Breaking News, Live Updates & Top Stories | Vimarsana

So, senate leader, majority leader mitch mcconnell has said he thinks the prospects for a border adjustment part of the plan are rather bleak, and yet, he still says it should be revenue-neutral. what are the alternatives being discussed? and is there a way that the border adjustment can either have a transition that would make it more palatable or some kind of half border adjustment? >> yeah, so, i think you can say yes to all of the above to what you just said. what we have to do, as an old tax writer, i would say this, is you have to weigh alternatives off one another. it is obvious that yo...

He thinks the prospects for border adjustment are rather bleak. what are the alternatives being discussed and is there a way that this border adjustment has a transition that would make it more palatable or some kind of -- 's before you can say yes to all of the above. as a tax writer, you have to weigh alternatives. it is obvious that you can and should have some kind of adjustment and phasing period if you're going to have adjustment. it makes the tax code the most competitive out of any version you're looking at. it removes all tax incentives to move overseas. if you're not going to do vote...

Constituency in chicago you're paying your income tax including the cost of your product. when it's exported a foreign jurisdiction is taxing it as well. the problem is the inverse is not true. if you manufacture something overseas, they take the taxes off at the border and we don't tax it here. what we're looking for is a level of parity. one of the proposals is this concept known as border adjustment. here is the larger point. we have to put this all in the context of updating our tax code. so what does it look like if our economy is growing at 3% instead of 2%? what does it look like if fol...

The ways and means committee have been working since then to fill the meat on the bones. elizabeth: that's where you set. >> we're well ahead of the president in terms of filling in the details. if you look at the president's frame work versus ours, we're largely in agreement. there are some things left open. if we're not moving unified moving forward we have no chance. the president knows that. elizabeth: what is open? >> the border tax is one issue that's left open in my opinion. it's critical for american companies to be competitive in the world. 140 other countries around the world already...

This? >> the history is it does produce more growth. if you pump more money, people will spend it. >> will we get from 2 to 3%? >> no. what makes the economy grow is one, more people working and, two, people working and producing more stuff. some of this will help in that dwreks. a lot of them have nothing to do with that. we have a labor force that's aging, productivity that's been slow for a whole variety of reasons. one of the things that was interesting to me, things that were never mentioned yesterday was infrastructurement intrastricture is one thing that would make the economy grow fast...