The National Retail Federation has launched a television, print and digital advertising campaign to warn Americans about the potential cost of a border adjustment tax.
The BAT is included in the Better Way plan for tax reform developed by the Republican leadership in the United States House of Representatives. The organization stated that it strongly supports tax reform but insisted that the BAT is bad tax policy that would increase costs on everyday necessities like food, gas, clothing and prescription medicines for the average family by as much as $1,700 in the first year alone.
NRF placed the TV spot on the campaign landing page, bat.tax, and started airing the advertising on the Fox News Channel’s morning program, “Fox and Friends.” It also will air the spot during the NBC’s “Saturday Night Live” this Saturday, March 4. It will support the television advertising with a digital and print campaign, and will encourage consumers to contact their members of Congress to express opposition to the border adjustment tax.
According to NRF, the BAT puts at risk millions more retail jobs than it would allegedly create for manufacturing. Retailers support one out of four U.S. jobs, or 42 million positions, but a BAT could cause retailers to see tax bills three to five times the amount of their profits, threatening to drive some merchants out of business. At biggest risk are small operators that make up 98% of the retail industry, NRF pointed out, and provide 40% of its jobs.
“American consumers are being asked to foot the bill for a new $1 trillion tax giveaway for multinational companies, and this campaign will make sure those paying for it know it,” said David French, NRF svp/ government relations. “We need tax reform that rewards entrepreneurs and allows businesses to grow and create good-paying jobs that lift working families up. The BAT does just the opposite, penalizing Americans by adding a tax on clothing, food, gas and other necessities while threatening the very industry that 42 million hardworking men and women rely upon for their livelihoods.”
