MOUNT PROSPECT, Ill. (BRAIN) — The National Sporting Goods Association has joined several retail trade groups in opposing a proposed federal Border Adjustment Tax.
A BAT would tax importers of foreign-made goods while removing taxes on the profits gained from exporting goods. Supporters say it would encourage domestic manufacturing; critics say it would increase the retail price of many consumer goods and harm businesses that depend on selling those goods. Most economists agree that a BAT would increase the value of the U.S. dollar in the short term, which would make U.S. exports more costly; in the longer term, economists disagree on whether a BAT would encourage domestic manufacturing.
The NSGA joins the National Retail Federation and several large retailers who have publicly opposed the BAT plan, whose biggest proponent is House Speaker Paul Ryan. The NRF has estimated that BAT would cost American families as much as $1,700 a year due to higher priced imported products.
“Those dollars reduce discretionary spending that comprise many sports, fitness and recreation purchases which keep our nation active and healthy,” said NSGA’s president & CEO Matt Carlson. “We urge NSGA members to contact their U.S. Representatives and Senators to voice their concerns about this middle-class and working-family stifling tax.”
The NSGA has joined Americans for Affordable Products, a group of trade organizations and retailers who oppose a BAT.
