A Tax Loophole that Puts America Last

A Tax Loophole that Puts America Last

Congress is looking for smart ways to offset its tax cut. Here’s an easy one. Eliminate a bizarro tax policy that rewards smoking (and consuming alcohol), tilts the tax system IN FAVOR of foreign production, and costs the federal government $12 billion in taxes owed. All at once! The House tax bill closes this crazy “Excise Tax Loophole.” But the Senate markup foolishly retains it. Under this multi-billion-dollar tax scam, the U.S. government se…