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Experts Arenít On Board With BAT

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Old 04.20.17, 11:26 AM
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Experts Arenít On Board With BAT

04.20.17 06:28 AM

Congress is considering a new 20 percent tax on imports that could raise prices on American families. Now a new survey from the University of Chicago shows what experts think about the Border Adjustment Tax. The university asked a panel of top economists at universities across the country about how the BAT will affect American families and businesses. Some top takeaways from the panelís responses: The BAT likely wonít substantially reduce the U.S. trade deficit: twenty-nine percent of experts surveyed said the proposed tax wonít boost Americaís economy. Supporters of the BAT import tax say it will create a level playing field in the global economy, but only ten percent of experts agree that the BAT will reduce the trade deficit. The BAT will likely substantially raise prices for U.S. consumers: twenty-three percent of experts said the BAT would indeed increase the cost of living for American families. ďThe point of the tax is to shift [the tax burden from] producers who are mobile to consumers who aren’t. That means consumer prices go up. There’s no magic,Ē said Austan Goolsbee, a professor from the University of Chicago who was part of the panel. Just 17 percent disagreed the BAT would […]

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