Two associations representing the aerospace and semiconductor industries have endorsed a package of Republican tax reforms that would include a new tax on imported goods.

The Aerospace Industries Association and Semiconductor Industry Association both recently announced their support for the House GOP plan, which would include the creation of a border adjustment tax on imported goods. However, neither group specifically mentioned the tax in their statements, and a SIA executive said the proposal needed further review.

Still, the endorsements come as retailers, food service providers and other industries that rely heavily on imports are blasting the tax. The National Retail Federation launched a multi-media campaign in February to drum up opposition to the proposal.

Several AIA members are part of a coalition advocating the adoption of a border adjustment tax, the Seattle Times reported. The association itself is pushing for broader tax reform.

"We need a modern tax system which creates a level playing field with the rest of the world in order to locate and grow jobs, manufacturing and profits inside the United States," AIA CEO David Melcher said. http://bit.ly/2mZTdJV

SIA CEO John Neuffer told the news site Morning Consult that one of the key questions his group had was how the border adjustment tax would be structured.

"Right now, the border adjustment is just a couple of lines in that blueprint," Neuffer said. "It's not a piece of legislation yet, and it's unclear exactly how that piece of it fits into the puzzle and how it affects all of us." http://bit.ly/2naxaAO

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