The proposed border adjustment tax has been dividing U.S. lawmakers. It is also dividing companies into those who support it and those who do not, as the simplified theory of the proposal – tax imports and exempt export revenue from taxable income – is expected to create clear-cut winners and losers among U.S. businesses. It is also dividing the U.S. states into two groups: states that are expected to benefit, and states who stand to lose from the tax plan. The state of Texas and its economy are expected to be on the losers’ end should the border tax pass as-is, even though the probability of the plan passing all legislative vetting is not considered to be very high. Because of its physical location, adjacent to Mexico, along with its vast energy industry, Texas’ economy is a global one. Texas is the home of energy giants ExxonMobil, Valero Energy, […]