This letter is spurred by the content of President Trump’s flawlessly delivered speech before Congress. I paid very close attention because I want very much to like and approve of him and I still had lots of questions.
Last night he lived up to what I was hoping for. Most of the time he said “we,” not “I,” which is quite different than the previous eight years. I feel as if I am included in what he wants to do for the country instead of personal acclaim.
I’m in the retail business and have been concerned about how the budget is going to affect my business. If imports are taxed and exports are relieved of taxes, this again creates a disparity between businesses. What I’ve read about, as part of the budget, is called the Border Adjustment Tax, which is known as the BAT. As a retailer who imports more than half of my inventory, I can tell you that the BAT is really BAD.
President Trump mentioned the process in his speech but he didn’t endorse it or even call it by name, but I am concerned that Speaker Ryan will include it in the budget and it could derail the whole process.
Retailers across this country are not prepared to pay higher taxes on anything that is imported because they will have to raise the price to their customers. This could defeat the whole purpose of individual tax cuts. Now is the time to let Congress know that you cannot accept the BAT and I don’t believe the President wants to punish the millions of retailers out there who will have to raise prices to cover the tax increase.
