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Minnesota Job Creators Stand Ready to Enact Pro-Growth Tax Policy

Employees & Employers Oppose Job-Killing, Consumer-Punishing Border Adjustment Tax

Minnesota Job Creators Stand Ready to Enact Pro-Growth Tax Policy

Americans for Affordable Products (AAP) – a collection of more than 400 businesses and trade associations seeking to stop the Border Adjustment Tax (BAT) – released the following statement in response to President Donald J. Trump’s tax policy unveiled yesterday:

“Retailers across Minnesota are encouraged by President Trump and his administration’s remarks yesterday on an approach to tax policy that excludes the ill-conceived Border Adjustment Tax. The Border Adjustment Tax concept is a job-killer to retail—one of Minnesota’s largest job-producing industries,” said Bruce Nustad, president of the Minnesota Retailers Association. “We are grateful the president has chosen not to increase the cost of basic necessities like gasoline, groceries, clothing and medicine. That approach would have hurt Minnesota’s consumers, families, and jobs.” 

To obtain a full list of the AAP coalition, click here.

BACKGROUND:

Consumers Will Feel The Pain In Rising Costs From The Border Adjustment Tax:

Consumers Will Be Hurt By The Border Adjustment Tax Costing American Families As Much As $1,700. Upon passage, the Border Adjustment Tax or BAT will be slapped on everyday necessities costing American families as much as $1,700. (National Retail Federation, Accessed 1/31/17)

Border Adjustment Tax Threatens Largest National Employment Sector Representing One Quarter Of Americans:

PricewaterhouseCoopers LLP: Retail Is The Nation’s Largest Employment Sector Supporting 42 Million Jobs & Representing Employment For One In Four Americans. “Retail is the largest private-sector employer in the United States, supporting one out of every four jobs. A healthy and vibrant retail industry delivers a powerful impact across our economy … Retailers directly provide 29 million American jobs … The retail industry supports a total of 42 million jobs in retail and a host of other industries – 23.4% of total U.S. employment.” (National Retail Federation, Accessed 1/28/17)

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: www.KeepAmericaAffordable.com.

Additional Information:

 

To schedule an interview with an Americans for Affordable Products representative, please email This email address is being protected from spambots. You need JavaScript enabled to view it..

About the Author

Bruce Nustad

Bruce Nustad is president of the Minnesota Retailers Association.

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