Foreign-car Dealers Urge Congress To Reject Border Tax
Foreign-car dealers urge Congress to reject border tax
Washington — About 250 foreign-car dealers from around the country spread out across Capitol Hill on Thursday to meet with lawmakers and urge them to reject a House Republican plan for a new tax on imports.
Members of the American International Automobile Dealers Association, which represents 9,500 franchises, told members of Congress that the border-adjustment tax would hurt sales.
They point to a study by the Center for Automotive Research that the tax could lead to a 5.6 percent increase in prices in the overall market, or an estimated average of $1,970 per vehicle.
“Two thousand dollars is a lot of money when it’s …