The Coalition for a Prosperous America is asking Congress to improve the federal tax system to promote U.S. trade competitiveness. CPA CEO Michael Stumo says their proposals would tax foreign companies who profit from access to the U.S. market, eliminate taxes on profits and sales from exports and neutralize the tariff like impact of foreign value added taxes.

He says they want Congress and specifically the Senate Finance Committee to consider a destination based Sales Factor Apportionment tax system and a Strategic Goods and Services tax.

Stumo says the U.S. would become more trade competitive if we instituted a value added tax against foreign companies as they do to us.

Stumo says currently the United States is alone in not collecting value added taxes on imports.