yesterday we had a hearing on the border adjustment the ceo of archer daniels mitt been was here the corn and wheat and soybeans. our primary competitors are russia and brazil with 15 percent border adjustment so when china that has 6 percent of the early end in 20 percent of the population will they pay 15 percent more because of our antiquated tax system? i hear you say that we read about it you have problems with border adjustment as a tax lawyer i guided to a but the more i learned the more i recognize it is a necessary component to rebuild the middle class. so where are you on border adjustment? have to resolve the problem if you don't like it would oilskin we do to rebuild the manufacturing base to have the way overdue 27 year rate?. >> i can assure you the priority is the though class to make sure our businesses are competitive. we absolutely share common goals with what we are trying to do to make american business competitive. >> how to redo revenue neutral tax reform and make it competitive if we don't do border adjustment which every other country has?. >> to comment on th

opposing the economy, supportin archer daniels, and the most interesting person here was former walmartll simon, here as a cents, not a a representative of walmart, and simon sees both the benefits and concerns, but ultimately supports the border adjustment tax with caveats. >> improperly implemented, it will be very, very hurtful for the industry and stuconsumer, b if we take the time to do the work, sit down in a group, and iron out, lay out what it looks like, i think it will be very, very successful for u.s. manufacturing. once the middle class jobs start to return to the country in the wage increases that would come with that, retail will start to see a new sort of resurgence in a period of growth. >> now, the community actually asked the most questions to the professor really to get her academic explanations. while representative brady certainly is in favor, creator in part of the proposal, many others seemed to agree with representative that the border adjustment tax is on life support. >> hard when the trump administration, when you have the treasury secretary sounding like he d

incent people to have unnatural mergers simply because of the tax code like the aforementioned archer daniel midlands and walmart. we can do better than that and i think the committee can do better with that if we listen carefully to the information like you've presented. >> thank you. awful time is expired. >> thank you, mr. chairman and thank you all for providing very constructive testimony here today. i especially appreciate the opportunity to have a great minnesota company have a part of this tax reform conversation which provides a good component to this discussion. the primary justification for the advocates of border adjustability is to end the special tax breaks for foreign products over american products and to keep american businesses and jobs from moving overseas. and certainly given at the pace of american companies moving their head quarters to other countries, inversions which we talked about earlier in recent year, it's happened both in minnesota and across the country, you don't need to convince minnesotaians that something needs to be done. we need to make sure that america

the ceo's of target and archer daniels midland testified along with the former ceo of walmart and an economic official from the george w. bush administration. >>> the committee will come to order. well to the way and means committee hearing on increasing u.s. competitiveness in preventing american jobs from moving overseas. before we get started i want to take a moment to speak about the evil terror attack that occurred last night in the united kingdom, our deepest condolences go out to the victims, families and their loved ones. know you're in our prayers. today, we're continuing our work on pro growth tax reform that will improve the lives of all americans. this morning's hearing is focused on strengthen america's competitiveness and preventing jobs from moving overseas. for years americans watched our our manufacturing plants, and long-standing u.s. companies have moved overseas, devastating communities and the families that depend upon them. hundreds of thousands of good paying american jobs have left, and continued to leave to china, mexico, ireland, and other foreign countries.

daniel because he's given another shot in another county. >> the suffolk county jail has almost been a second home to cindy archer but today she'll have anotherer. >> i'm leaving. i'm going home. i'm getting discharged. >> you are? >> yeah. i'm excited. i'm going to do the right thing, i'm going to stay clean. and i'm not going to come back. i'll remember where i came from. >> what's the first thing you're going to do when you get outside? >> i'm smoking a cigarette. you know? okay. bye, kirby. >> as she is processed out, archer gets to exchange her jail uniform for the street clothes she was arrested in months earlier. >> my pants fit me. imagine? >> let's go. >> bye! bye, carey. i will, yeah. all right. my god, my god. this is the best feeling in the world. is to get out of jail, i'm in here nine, almost ten months on a year. >> you want to go home? >> yes, yes, sir. oh, i'm going home. 100-354. thank you. my release papers. thank you. >> take care. >> okay, this is my stuff. i'm going outside to smoke right now. >> archer has arranged to stay with an old boyfriend while she gets on her feet. >> i just got out just now. i'm on my way out th

the ceo's of target and archer daniels midland testified along with the former ceo of walmart and an economic official from the george w. bush administration. >>> the committee will come to order. well to the way and means committee hearing on increasing u.s. competitiveness in prev