Kevin Brady: The Border Adjustment Tax Simplifies the Code and Eliminates Incentives to Move Overseas

EXCERPT:

BARTIROMO: "How important is raising revenue while you're also cutting taxes, congressman? Because this border adjustment tax is supposed to raise a trillion dollars over 10 years and you already go into this process down a trillion dollars because you don’t have those taxes taken out of the health care bill that you wanted. So how do you get revenue moving up? Does that mean a border tax is definitely in there?" 
BRADY: "I believe it’s a given anyway. But it's not because of the revenue. That's a big part of it. The main reason for having that there is our competitors. We want to make sure there is a level playing field between foreign products and made in America products here as well as abroad. We want to simplify the tax code which is what border adjustment does. It also eliminates any tax incentives to move manufacturing jobs or headquarters overseas. So taking that out would have severe consequences. Clearly we couldn’t leapfrog, nor would we be competitive. That's why we are working on significant modifications to make sure that we phase this in, design it write, create the most growth we can."