Retail CEOs will descend on Washington on Wednesday to meet with lawmakers and the president to talk taxes, including the increasingly-contentious matter of border adjustability.
Chief executives of AutoZone (AZO) , Tractor Supply (TSCO) , Jo-Ann Fabric, Target (TST) , Best Buy (BBY) , Gap (GPS) and J.C. Penney (JCP) will be in attendance, according to people familiar with the matter. Walgreens Boots Alliance (WAG) will join the group for a meeting at the White House but will not take part in meetings with Congress.
While tax reform is the broad agenda, conversations will hone in on the border adjustment tax, a measure that essentially taxes imports and exempts exports. Retailers have voiced strong opposition to the tax, arguing it would put retail jobs at risk and raise consumer prices.
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Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
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