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Business Tell Ohio Congressman Import Tax Plan Would Hurt
By: Associated Press
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COLUMBUS, Ohio (AP) – Some retailers worried that a contentious proposed tax on imports would hurt business have voiced concerns to an Ohio congressman who’s on a tax-writing legislative committee.
Republican Rep. Jim Renacci attended Thursday’s discussion hosted by the business group Americans for Affordable Products, which opposes the “border adjustment.” Attendees raised concerns about potential effects on their businesses, including clothing company Abercrombie & Fitch, Jo-Ann Fabric and Craft Stores, and discount retailer Big Lots.
House Republican leaders support the proposal to tax imports and cut the corporate tax rate.
The head of the Ohio Council of Retail Merchants says that potential shift to consumer tax worries business executives, though he agreed with Renacci that comprehensive tax change is needed.
Renacci is considered a potential gubernatorial contender.