ARLINGTON, Va. — The National Association of Chain Drug Stores was among more than 200 members of the Americans for Affordable Products coalition that drafted a letter to bipartisan leadership opposing the Border Adjustment Tax.
“The Border Adjustment Tax is not simple or fair. It proposes a massive tax increase on consumers and would result in increased costs on everyday necessities like food, clothing, gasoline and prescription drugs — necessities that Americans rely on daily — by as much as $1,700. It is really a ‘cost of living tax’ that will make the lives of millions of middle-class Americans harder and more expensive.”
According to NACDS, companies and associations that are members of Americans for Affordable Products speak for nearly one out of every four jobs in the nation.
“The Border Adjustment Tax would take the term ‘unintended consequences’ and redefine it for the ages,” said NACDS President and CEO Steven C. Anderson, IOM, CAE. “From a health and wellness perspective; from a total-store perspective; from a consumer perspective; from an employee perspective; and from an employer perspective the Border Adjustment Tax would prove devastating and it should be considered a non-starter in the public policy arena.”
NACDS instead supports the “Made in the U.S.A.” movement.