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Target, Best Buy See Nice Return on Border Adjustment Lobbying Effort

(Jim Spencer – Star Tribune)

In the first six months of 2017, Best Buy spent $1.71 million lobbying, twice as much as it spent the entire year in 2016. Target Corp. spent $1.48 million lobbying from January through June 2017, only slightly less than it spent all of last year.

The numbers, drawn from government records, show the Minnesota companies’ determination to kill a border adjustment tax on imports that House Republicans made a centerpiece of their Better Way tax reform plan.

In a memorable bout of political muscle-flexing, the nation’s retail industry “took a $5 trillion tax hike [over 10 years] and defeated it with a few million dollars worth of advocacy expenditures,” said David French, vice president of government relations for the National Retail Federation (NRF), which spent $7.3 million lobbying in the first six months of 2017, more than it did in all of 2016. Click here to read more.