The International Housewares Association has joined a coalition of more than 100 businesses and trade associations that are speaking out against the Border Adjustment Tax (BAT).
The IHA is lending its voice to the Americans for Affordable Products (AAP). As previously reported by HomeWorld Business, AAP currently consists of numerous leading retailers and trade groups voicing opposition to BAT. According to the organization, a tax on imports would lead to higher prices on a host of items including food, gas, clothing and medicine.
“We view this as an opportunity to lend the resources and leverage of the IHA to the Americans for Affordable Products Coalition,” said Phil Brandl, IHA president and CEO. “Any tax law, however well intended, that adds substantial cost to products and ultimately the consumer, is not a productive law. With the help of IHA members, we will communicate our intense displeasure with the proposed law to all appropriate legislative representation.”
According to the National Retail Federation, upon passage, the BAT will cost American families as much as $1,700. Middle class and low-income families who have seen their wages stagnate in recent years would bear the brunt of this new tax because they spend a larger share of their income on tradeable goods that would be hit by the BAT.