GOP hears pros and cons from businesses about proposed tax
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House Republicans are mulling an overhaul to the tax code, specifically, how businesses are taxed. One possibility? Businesses that import items would see higher taxes on those goods — as much as 20 percent — and exporters would have the money they make off those exports exempt from taxes. Domestic manufacturers favor the plan, but not surprisingly, retailers that import goods aren’t that keen on it. Several retail industry CEOs are up on the Hill this week to weigh in. So let the lobbing begin.
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