Sixteen executives from companies like Boeing (BA) , General Electric (GE) , Oracle (ORCL) and Pfizer (PFE) sent a letter to congressional leaders on Tuesday supporting the House GOP tax plan, including the increasingly-contentious border adjustment tax. The tax, formally known as a destination-based cash flow tax, essentially taxes imports and exempts exports and has become an issue of heated debate on Capitol Hill. The group said the border adjustment tax is a "critical element" of the House's "Better Way" tax reform blueprint, arguing it is "consistent with the tax policies of nearly every other country in the world." The letter comes a week after retail CEOs descended on Washington, D.C. to push against the border adjustment measure.
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