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Retailers are wary of a GOP plan that could increase taxes on imported goods

Mitchell Hartman Nov 28, 2016
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Wal-Mart employee Clara Martinez stocks the shelves at a store in 2015 in Miami. Big retailers that sell a lot of imported goods are starting to ring alarm bells over a GOP tax plan that relies heavily on import taxes. Joe Raedle/Getty Images

Retailers are wary of a GOP plan that could increase taxes on imported goods

Mitchell Hartman Nov 28, 2016
Wal-Mart employee Clara Martinez stocks the shelves at a store in 2015 in Miami. Big retailers that sell a lot of imported goods are starting to ring alarm bells over a GOP tax plan that relies heavily on import taxes. Joe Raedle/Getty Images
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Tax reform is floating toward the top of the agenda on Capitol Hill. Since Republicans will control both houses of Congress and the White House, they’ll  presumably have a better shot at passing sweeping tax reforms for individuals and corporations. One corporate tax proposal House Republicans brought back in June is now getting a lot of pushback from lobbyists for big retailers. It would impose a new tax on imports, like apparel, furniture and appliances that retailers buy very inexpensively abroad and sell pretty cheaply to consumers here in the U.S. 

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