Auto Care Association Reacts to Hearing in U.S. House Ways and Means Committee

Posted by Auto Care News on May 23, 2017

Hearing Showcases Border Adjustment Tax Based on Academic Theory, Not Real-World Reality 

BETHESDA, MD – May 23, 2017 – The Auto Care Association released the following statement reacting to today’s hearing in the U.S. House Ways and Means Committee:

“We applaud the House Ways and Means Committee for holding a hearing on the Border Adjustment Tax (BAT) today,” said Bill Hanvey, president and CEO, Auto Care Association. “The hearing clearly demonstrated that the BAT is simply an academic theory with tremendous risk involved for the country, in general, and to the auto care industry, in particular. Consumers will be stuck with the tax and the repercussions will be devastating. Our industry employs nearly five million people in the U.S. and they need jobs and business security, not theoretical assumptions to keep the economy moving forward.”

The BAT, which would impose a new 20 percent tax on imported goods and services, would result in a $20 billion per year tax increase on automotive parts. For the average family, this would mean a $160 increase in annual auto repair and maintenance costs, to about $1100 per year, according to an analysis of the tax conducted by the Auto Care Association.

For more information, contact Paul Fiore at paul.fiore@autocare.org or 301-654-6664.

About the Auto Care Association
Based in Bethesda, Md., the Auto Care Association has nearly 3,000 member companies that represent some 150,000 independent automotive businesses that manufacture, distribute and sell motor vehicle parts, accessories, tools, equipment, materials and supplies, and perform vehicle service and repair. Visit www.autocare.org.