Boeing (BA) is going to bat for the BAT — the border adjustment tax that is a central part of the GOP plan to cut the corporate tax rate.
The controversial Republican tax-reform plan, which would slap a 20% tax on imports but make exports tax-free, has gotten off to a rough start in the court of public opinion. The National Retail Federation has warned that it would raise prices and cause consumer spending to decline, while analysts have said that big importers like Wal-Mart (WMT), Target (TGT) and Best Buy (BBY) could suffer major hits to profitability.
House Republicans, with the help of economists, have countered that an anticipated 20% appreciation of the dollar would neutralize those negative effects, while removing what they call a “Made in America” tax.
Now big exporters including Boeing and General Electric (GE) are reportedly gearing up to help House Speaker Paul Ryan…