"Companies that were investing, growing and contributing to a vibrant economy just a few weeks ago have been thrust into survival mode through no fault of their own."NRF President and CEO Matthew Shay
WASHINGTON – The National Retail Federation issued the following statement from President and CEO Matthew Shay in response to the Senate’s expected vote today on stimulus legislation intended to ease the economic impact of the coronavirus pandemic:
"Retailers big and small and the associates they employ appreciate the efforts by leaders in the House and Senate and by President Trump to successfully negotiate the CARES Act and moving rapidly to make it law. Companies that were investing, growing and contributing to a vibrant economy just a few weeks ago have been thrust into survival mode through no fault of their own. They need a bridge to get through this turbulent time and back to the business of job creation and economic prosperity for their workers and the customers they serve. These companies are hurting and need help immediately. As we move forward, what we need is quick action and flexible relief, not further delay and restrictions. We need to move now."
The National Retail Federation, the world’s largest retail trade association, passionately advocates for the people, brands, policies and ideas that help retail thrive. 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 $3.9 trillion to annual GDP and supporting one in four U.S. jobs — 52 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.