There’s a lot of jargon floating around these days about tax reform, and one of the most commonly misunderstood terms is the border adjustment tax. But peel back some of the misinformation and scare campaigns, and, as this short video by TIME correspondent Haley Sweetland Edwards explains, it’s actually rather simple.

This proposal is one component of the GOP tax blueprint, which, as many American manufacturing CEOs have pointed out, will help level the playing field for our businesses.

As President Trump explained on Tuesday night, “Right now, American companies are taxed at one of the highest rates anywhere in the world. . . . We must create a level playing field for American companies and our workers. We have to do it.

We agree. That’s why we are determined to enact a pro-growth tax code that brings back jobs from overseas, lowers taxes for hardworking families, and revitalizes the American economy.

To learn more, visit speaker.gov and check out the links below. 

Read more:
President Trump: ‘We Must Create a Level Playing Field’ (3/1/17)

GOP Tax Blueprint ‘Could Lead to a Lot More Jobs in the United States’ (2/24/17)

American Manufacturing Leaders Embrace Republican Tax Plan (2/21/17)

Republican Plan Will Vault U.S. Tax Code to the Top (2/17/17)

A Tax Code to Level the Playing Field (2/9/17)

Momentum Builds for Republican Tax Plan (1/31/17)

A Destination-Based Tax Code to Increase American Competitiveness (1/19/17)

A Simpler and More Competitive Tax Code (1/6/17)