Retail CEOs will descend on Washington on Wednesday to meet with lawmakers and President Trump to talk taxes, including the increasingly-contentious matter of border adjustability.
Chief executives of AutoZone (AZO) - Get AutoZone, Inc. Report, Tractor Supply (TSCO) - Get Tractor Supply Company Report, Jo-Ann Fabric, Target (TST) - Get TheStreet, Inc. Report, Best Buy (BBY) - Get Best Buy Co., Inc. Report, Gap (GPS) - Get Gap, Inc. (GPS) Report and J.C. Penney (JCP) - Get J. C. Penney Company, Inc. Report 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.