Ryan’s plan has also attracted some conservative opposition, including from Americans For Prosperity, a conservative advocacy group founded by billionaire brothers Charles and David Koch.
Still, Ryan recognizes that the most important person to convince is Trump himself, according to a person familiar with the meetings. Getting Bannon and other like-minded advisers on board would give the plan powerful supporters in Trump’s inner circle.
Trump last month said the border-adjustment proposal was “too complicated,” although more recently he told Reuters it could lead to more American jobs. When questioned about Trump’s evaluation of the impact the border-adjustment plan would have on consumer prices, White House press secretary Sean Spicer said the plan would be a net benefit for Americans.
“It’ll actually benefit consumers, benefit workers, and benefit our economy,” Spicer told reporters Feb. 23. “We are probably one of only a handful of developed countries that don’t have a tax system that looks at this.”
The hardest sell on the border adjustment might be with Republican lawmakers, who are wary of the impact it would have on retailers, automakers and oil refiners that could pass the cost on to consumers. John Cornyn, the No. 2 Senate Republican, said this month he didn’t see the votes lining up in favor of Ryan’s tax plan, and the GOP should consider alternatives.
Ryan recognizes the opposition but says he’s ready for the “drama” of the biggest tax overhaul in three decades.
“It’s going to be up, it’s going to be down, it’s going to be on, it’s going to be off,” Ryan told reporters Feb. 16. “You’re going to report 150 stories on tax reforms between now and when we get tax reform done.”
This article was provided by Bloomberg News.