WASHINGTON – The National Retail Federation today issued the following statement from NRF Executive Vice President of Government Relations David French as the U.S. Senate begins consideration of the budget reconciliation bill.
“NRF encourages passage of the Senate budget bill that will provide critical tax relief to American families, workers and businesses, and will foster economic stability and long-term growth.
“Retailers are deeply invested in policies that fuel consumer spending, support small businesses and create the certainty needed for long-term business investment. This legislation delivers key tax provisions, including maintaining the corporate tax rate at 21%, restoring immediate expensing for domestic R&D, reinstating the EBITDA-based limitation on business net interest deductions, and encouraging substantial investments in infrastructure and construction.
“This bill is a balanced approach that will empower consumers, incentivize business investment and promote global competitiveness. This legislation is a balanced package that advances those goals, helping retailers create jobs and invest in communities across the country.”
NRF sent a key vote letter in support of the House and Senate versions of the budget reconciliation bill.
NRF will continue to advocate for passage of this legislation and will work with lawmakers to ensure tax policy that supports American businesses and consumers.
About NRF
The National Retail Federation passionately advocates for the people, brands, policies and ideas that help retail succeed. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $5.3 trillion to annual GDP and supporting more than one in four U.S. jobs — 55 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies. nrf.com
