The U.S. corporate income tax system is awful and needs to be reformed, but it does not subsidize foreign imports or justify a border-adjusted tax.
By backing away from a border adjustment, Republicans are making a major mistake. This policy will help narrow the trade deficit and fund a tax cut for all domestic businesses.
My hometown of Hickory, North Carolina is actually a great example of the American economy’s resilience—not despite trade, but in concert with it.
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