The Auto Care Association says it is pleased and relieved to see that the tax reform framework negotiated by House Speaker Paul Ryan (R-WI), Senate Majority Leader Mitch McConnell (R-KY), Treasury Secretary Steven Mnuchin, National Economic Council Director Gary Cohn, Senate Finance Committee Chairman Orrin Hatch (R-UT), and House Ways and Means Committee Chairman Kevin Brady (R-TX), announced yesterday, has removed the border adjustment tax (BAT) from consideration.
“This is great news for our members and the $360 billion auto care industry,” said Bill Hanvey, president and CEO of the Auto Care Association. “I want to thank those members who tackled this issue head-on by scheduling meetings with their legislators, writing letters and making phone calls. Their time commitment and dedication to the cause was phenomenal and they should all be proud of their efforts. We are grateful that we now have the opportunity to work with Congress and the administration to reform the outmoded tax code that is a burden to all of us.”