A proposed tax on imports is central to the House GOP plan to lower the overall corporate tax rate. It would generate about $1 trillion over the next decade to finance the lower rates without adding to the budget deficit.
But the tax faces strong opposition from retailers, automakers and the oil industry, and a growing number of Republicans in Congress have come out against it. They worry that it will increase the cost of imports, increasing consumer prices.
I’m not making any bets on how this plays out on the Ways and Means Committee.