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Koch Industries : Urges Support for Comprehensive Tax Reform; Voices Concern Over Border-Adjusted Tax Provision

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12/12/2016 | 05:46pm EST

December 7, 2016

December 7, 2016

Philip Ellender, president of government and public affairs for Koch Companies Public Sector, LLC, issued the following statement today in support of Congress pursuing comprehensive tax reform while voicing concern over a border-adjusted tax provision that would benefit companies like Koch Industries at the expense of consumers:

'Koch Industries very much supports a move toward comprehensive tax reform in order to fuel job creation and grow our economy. However, we worry that the border-adjusted tax provision proposed in the House Republican blueprint would adversely impact American consumers by forcing them to pay higher prices on products produced in and goods imported to the U.S. that they use every single day. While companies like Koch who manufacture and produce many products domestically would greatly benefit in the short-term, the long-term consequences to the economy and the American consumer could be devastating. As leaders in Congress continue to explore ways to bring much needed reform to a broken tax code, we encourage lawmakers to pursue cuts to excess spending and eliminate existing corporate welfare provisions, including those where Koch benefits. The proposed border tax adjustment will distort the market, increase consumer prices and create an uneven playing field for companies and consumers alike. Our tax system should encourage, not destroy, free exchange and trade resulting in robust commerce and lower, not higher, prices for consumers.'

Koch Industries Inc. published this content on 07 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 December 2016 22:45:08 UTC.

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