Marc Gerson, Chair of Miller & Chevalier and former Republican tax counsel for the House Committee on Ways and Means, was quoted regarding the decision to eliminate the border adjusted tax (BAT) from tax reform negotiations. Without the BAT, the question for lawmakers is now how low tax rates could realistically get, Gerson said. The joint statement from the administration and congressional leadership announcing the decision to eliminate the BAT called for "unprecedented capital expensing" and Gerson questioned whether this new language suggested a "set back" from the full capital expensing proposal contained in the House Republican blueprint. This new language "may be a concession to the notion that there's now less revenue available for that," he said.

Mr. Gerson's comments were also included in coverage by Digital Commerce 360 and NewsMax Finance.