""The law at issue here-IEEPA-doesn't only apply to imports; it authorizes the president to regulate imports, exports, sales, use, holding, a whole bunch of activity," Timothy Meyer, professor of international business law at Duke University, told Fortune. "If the government were to win just on this interpretation of this law, the president would have the ability to tax, to impose sales taxes, he could impose property taxes.""
"and the government argues regulation includes the power to impose tariffs in order to influence behavior, the same logic would allow the president to use taxes to pursue regulatory goals. "If the president has the ability to impose taxes on the basis of a law that doesn't mention taxes," Meyer said, "we really are in a world in which there is very little that the president is not going to feel empowered to do based on broadly-worded statutes.""
The U.S. Supreme Court will rule on tariffs issued under the International Emergency Economic Powers Act that target China, Canada, the European Union, and other major economies. Lower courts ruled against the president's use of IEEPA to enact country-specific tariffs. The central legal question is whether IEEPA's authorization to regulate imports encompasses the power to impose tariffs or other taxes. If upheld for the administration, IEEPA could permit regulation of imports, exports, sales, use, and holdings and enable imposition of sales or property taxes to pursue regulatory goals. The outcome could either expand or constrain executive fiscal authority.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]