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Ohio Retailers Worried About Proposed Federal Tax On Imports

Feb 25, 2017

Ohio Republican Congress member Jim Renacci met with Ohio business leaders this week
Credit renacci.house.gov

Some retailers worried that a contentious proposed tax on imports would hurt business have voiced concerns to an Ohio Republican congress member who is  on a tax-writing legislative committee.

Jim Renacci attended Thursday's discussion hosted by the business group Americans for Affordable Products, which opposes the "border adjustment." Attendees raised concerns about potential effects on their businesses, including New Albany-based clothing company Abercrombie & Fitch, Jo-Ann Fabric and Craft Stores, and Columbus-based discount retailer Big Lots. U.S. House Republican leaders support the proposal to tax imports and cut the corporate tax rate. The head of the Ohio Council of Retail Merchants says that potential shift to consumer tax worries business executives, though he agreed with Renacci that comprehensive tax change is needed. Renacci is considering running for Ohio Governor.