OLYMPIA, Wash., May 22, 2017 /PRNewswire-USNewswire/ -- Ahead of Tuesday's House Ways and Means Committee Hearing on the Border Adjustment Tax (BAT), Americans for Affordable Products (AAP), a national coalition of more than 500 small businesses, retailers and trade associations united to stop the BAT, announced the launch of its local campaign to educate lawmakers and citizens about the harmful effect the proposal will have on the state of Washington.
AAP is calling upon Washington's entire congressional delegation to oppose this ill-advised policy that will not only make everyday goods more expensive for Washington residents, but it will make it even harder for job creators to do business in the state. House Ways and Means Committee Member Dave Reichert will play a critical role ensuring this bad policy never becomes law.
"An exorbitant amount of financial stress will be placed on retailers, particularly small retailers if the Border Adjustment Tax becomes law," said Jan Teague, President and CEO of the Washington Retailers Association. "It will force retailers to raise prices, lay off employees and possibly shut their doors. The Border Adjustment Tax could decimate thriving commercial corridors throughout Washington and the United States."
The BAT will increase the costs on everyday essentials that Washingtonians rely on, like food, clothing and medicine, by $1,700. It would have devastating consequences on the retail industry, which supports 42 million jobs in the United States. Costco, Zulily, Columbia Sportswear, and the Washington Retail Association are members of the coalition.
"This Border Adjustment Tax will raise prices that U.S. consumers, not foreigners, will have to pay, and if it's successful in driving up the value of the dollar as supporters claim, it will hurt US exports", said Bill Bryant, former Republican candidate for Governor and Chairman of Bryant Christie, Inc., an international firm that helps U.S. food, agriculture and beverage businesses export their products. "It is likely a precursor to a national sales tax and to retaliation by our trading partners," Bryant continued, and encouraged the House Ways and Means Committee should reject the idea.
The BAT will also have a devastating impact on any business that exports. Schweitzer Engineering Laboratories, a company that produces high-technology equipment for utility and industrial electric power systems worldwide in Pullman, Washington and Lewiston, Idaho, ships products to their plant in Mexico that are installed into the large control and protection panels used by the national electricity utility of Mexico and customers in more than 20 countries.
President of Schweitzer Engineering Laboratories Edmund O. Schweitzer, III believes the Border Adjustment Tax will damage trade relationships and end up hurting American businesses, workers, and consumers.
"If the U.S. were to impose a Border Adjustment Tax, then it's likely that other countries would retaliate, damaging U.S. exports. In this scenario, both countries lose," Schweitzer said.
Americans for Affordable Products is a coalition of job creators, entrepreneurs, business leaders and consumers united against higher prices on everyday necessities. To learn more, please visit:
- Video: Columbia Sportswear CEO Opposes the Border Adjustment Tax
- Press Release: AAP Grows to More Than 500 Strong
- Background: AAP Coalition Membership
To schedule an interview with an Americans for Affordable Products representative, please email press@KeepAmericaAffordable.com.
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SOURCE Americans for Affordable Products