White House exploring new value-added tax and carbon tax: report
The White House is exploring a value-added tax and a carbon tax as part of a planned tax code overhaul, The Washington Post reported on Tuesday, citing an unidentified administration official and a person briefed on the matter.
The new tax options are being considered as a way to raise money as President Donald Trump’s administration looks for ways to pay for his promised cuts in middle class and corporate taxes. Administration officials told the newspaper no final decision has been made and they are reviewing alternatives.
The Post said the new options reflect the challenges presented by a possible border adjustment tax that Republicans have been considering.
(Reporting by Doina Chiacu; Editing by Tim Ahmann)