The nature of a border-adjustment tax incentivizes companies to keep their assets domestically, which can result in some valuable tax revenue given all of the latest spending.
I propose the following amendment:
Implementing a Border Adjustment Tax Act
An Act to implement an Border Adjustment Tax
Be it enacted by the Congress of the Republic of Atlasia assembled:
Section 1: BAT Rate
- A Border Adjustment Tax of 20% shall be implemented
Section 2: Tax Credit for Certain Types of Business Owners
- Owners of Sole Proprietorships, Partnerships, and LLC's will receive a $1000 Dollar Tax Credit
- Tax credits will begin to phase out for businesses making $300,000 or more, decreasing by $50 for each additional $10,000 increment of income, and will fully phase out for businesses making over $500,000
