Export-heavy companies are throwing their support behind the GOP’s proposed border adjustment tax.
On Monday, the American Made Coalition released a partial list of companies in favor of the “border adjustment tax,” which taxes imports but makes revenues from exports deductible. According to the coalition, the tax is “essential to leveling the playing field for American made goods and services and encouraging American jobs, investment, and manufacturing.”
For more import-dependent retailers like Walmart and Target, the proposed tax would certainly hurt. Over 100 companies have come out against the tax, billing it as a “consumer tax” that would raise prices.
The coalition says it has over 25 business in its partnership. Here are the 21 listed so far:
- Blue Diamond Growers
- The Boeing Company
- Caterpillar Inc.
- Celanese
- Celgene
- Cook Medical
- CoorsTek
- The Dow Chemical Company
- Eli Lilly and Company
- GE
- Honeywell
- Johnson & Johnson
- McIlhenny Company
- Merck & Co., Inc.
- Oracle
- Pfizer
- Qualcomm
- Raytheon Company
- S&P Global
- United Technologies Corporation
- Varian Medical Systems
Some of these companies already have President Donald Trump’s ear through the Manufacturing Jobs Initiative, a separate group of business leaders tasked with helping Trump form his jobs platform.
Dow Chemical Company CEO Andrew Liveris; Merck & Co. CEO Kenneth Frazier; Johnson & Johnson CEO Alex Gorsky; United Technologies CEO Gregory Hayes; General Electric CEO Jeff Immelt; Boeing CEO Dennis Muilenburg; and former Caterpillar CEO Doug Oberhelman have all been named to Trump’s Manufacturing Jobs Initiative. That list was posted on Jan. 27.
Oracle CEO Safra Catz was also named to Trump’s transition team in mid-December.
The coalition’s list comes as Congress and the Executive Branch are set to debate how best to enforce corporate tax reforms.
Coins2Day has updated this story to include information about how some companies are tied to Donald Trump.
Correction: A previous version of this story said the coalition supported Trump’s import tax. They support the House GOP’s border adjustment tax proposal, not necessarily the President’s proposed tax tariffs.
