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FedEx Delivers Alternative Tax Reform Plan

Under the guidance of chief executive officer Fred smith, FedEx Corp. has drafted an alternative tax reform plan in response to the quagmire on Capitol Hill.  The FedEx plan mirrors the House Blueprint in many ways, but explicitly omits a border adjustment tax (“BAT”) provision.  Instead, several revenue raisers are offered in lieu of the BAT, including a gasoline tax increase, a 10%...

House Republicans Remain Divided Over Border Adjustment Tax

With the GOP still looking for its first major legislative accomplishment under the Trump Administration, Conservative members of the House are calling for party leadership to abandon the proposed border adjustment tax in order to facilitate progress on tax cuts. Tim Phillips, president of the Koch-brothers backed “Americans for Prosperity” contends that House Ways and Means Committee...

Senate Republicans Offer No Alternative to Proposed Blueprint Revenue Raisers

Senate Finance Committee Chairman Orrin Hatch has suggested that the three revenue raisers (i.e., the border adjustment tax, elimination of certain itemized deductions and elimination of business interest deductions) proposed in the House Republicans’ Blueprint do not have support in the Senate, and he does not believe they will pass. However, Senate Republicans have yet to offer an...