is a once in generation opportunity to do this. it s important we deliver this year. maria: in addition to doing away with the border adjustment tax idea, another thing that was in the white paper that you released last week, unprecedented expensing, talk to us about this, what does this mean, how should we be thinking about how you re approaching unprecedented expensing? that means the status quo isn t enough. equipment software. maria: absolutely right. drives productivity, drives higher wages. imagine a zero tax rate on new investment for new businesses, incredibly progrowth. we want to make sure that as we look at lowering rates and continuing grow expensing, we are not trading off growth against growth but we are looking at other provisions that aren t so progrowth in order to get this in a good place. maria: in doing that, you want to have a territorial system to encourage companies to bring all that trillions of dollars or
and lorn labor rates is equal deduction. this is a pretty simple approach at the end of the year, business adds up export sales and discards them. it s not taxable. so it is the simple but pretty powerful equal taxation. here is the other objection i hear for it, prices are sticky, you can t immediate i will go out and raise your price ifs you re in business all of the time. you re going to have a transition period here and is the transition period going to be messy enough so that we could get enough uncertainty in the economy that between now and say the 2018 election we have a real stumbling economy and that won t help you guys. that s a fair criticism. so we are proposing bold changes here. taxing equally in u.s. and no longer taxing around the world all incredibly progrowth, big changes. we don t expect industries to pivot on a dime.
deducting that foreign capital and lorn labor rates is equal deduction. this is a pretty simple approach at the end of the year, business adds up export sales and discards them. it s not taxable. so it is the simple but pretty powerful equal taxation. here is the other objection i hear for it, prices are sticky, you can t immediate i will go out and raise your price ifs you re in business all of the time. you re going to have a transition period here and is the transition period going to be messy enough so that we could get enough uncertainty in the economy that between now and say the 2018 election we have a real stumbling economy and that won t help you guys. that s a fair criticism. so we are proposing bold changes here. taxing equally in u.s. and no longer taxing around the world all incredibly progrowth, big changes. we don t expect industries to