Corporate Tax Reform, Swipe Fee Reform, Trade Among Topics at NRF’s
Annual Fly-In
WASHINGTON--(BUSINESS WIRE)--
Hundreds of business people representing retailers large and small from
across the country will come to Washington this week to advance a public
policy agenda intended to boost the nation’s economy and job creation as
the National Retail Federation holds its annual Washington Leadership
Conference. The record number of attendees this year reflects NRF’s
renewed focus on significantly growing its advocacy footprint.
“The retail industry represents one in every four American jobs and
serves as a bellwether on the health of the economy,” NRF President and
CEO Matthew Shay said. “As policymakers craft legislation that impacts
Main Street business and the broader economy, our voice is
essential. Retailers will meet face to face with lawmakers to urge them
to stay the course on swipe fee reform, address uncertainty by tackling
tax reform, and promote growth through trade agreements.”
Over the course of the three-day conference, NRF members ranging from
Main Street store owners to CEOs of national retail chains will hold
almost 100 lobbying meetings with members of the House and Senate. They
will also hear from White House Chief of Staff William Daley, Senate
Majority Whip Richard Durbin, D-Ill., and National Republican Senatorial
Committee Chairman Senator John Cornyn, R-Texas. Retailers will push for
pro-growth policies that will boost the economy and consumer spending
and help boost employment. Topics include:
- Reducing Debit Card Swipe Fees for Consumers and Retailers –
The Senate has rejected an attempt to delay and ultimately reverse a
reduction in debit card swipe fees that will save retailers and their
customers more than $1 billion a month, but NRF will work to block any
further attempts that might be made before reform takes effect on July
21.
- Reforming and Simplifying the Corporate Tax Code – NRF supports
proposals to eliminate many special deductions and credits in return
for lower rates. Retail would see a lower effective tax rate under
such reform, and most of that reduction would be passed along to
consumers through lower prices. The resulting increase in sales volume
would create the need for more employees in stores and distribution
centers, and require more investment and job creation by wholesale
suppliers. NRF opposes creation of a Value Added Tax or other
consumption tax because of the negative impact on consumer spending. A
2010 study conducted for NRF found adding a VAT to the federal tax
system would cause the loss of 850,000 jobs in the first year, reduce
gross domestic product for three years, and bring a permanent drop in
retail spending totaling $2.5 trillion in the first 10 years.
- Repealing the Employer Health Care Mandate – NRF is working to
eliminate the employer mandate provision of 2010’s health care reform
law and will ask lawmakers to cosponsor legislation to do so, the
American Job Protection Act. NRF believes the requirement for most
companies to provide health coverage to full-time workers will force
many retailers to reduce the size of their workforces because of the
increased payroll costs. Rather than mandates, NRF supports measures
that make health coverage more accessible by making it more affordable.
- Promoting Sales Tax Fairness – NRF supports a level playing
field where all retailers are required to collect sales tax regardless
of whether they sell their merchandise through bricks-and-mortar
stores, through the mail or over the Internet. Equal application of
sales tax laws would help protect Main Street jobs currently being
lost because of the impact of online competition.
- Expanding Free Trade – NRF opposes tariffs and other trade
barriers that drive up the prices consumers pay for imported
merchandise. Measures targeted at specific countries such as China
invariably drive retail sourcing to other foreign suppliers rather
than protecting or creating U.S. jobs because most of the products in
question are no longer made in the United States in commercial
quantities or at affordable prices.
- Protecting Consumer Privacy – Retailers take their customers’
privacy very seriously and have an excellent track record of using
customers’ information responsibly. But with a large number of privacy
bills introduced recently on Capitol Hill, NRF is concerned that
overly broad, one-size-fits-all approaches could hamper innovations
that have improved the public’s shopping experience. NRF supports
responsible self-regulation as the most effective means to protect
consumers while allowing retailers the flexibility needed to better
serve their customers.
- Faster Visas for Foreign Tourists – NRF is calling on the State
Department to reform an antiquated process that costs the U.S. economy
billions of dollars by making it difficult for many foreign tourists
to obtain visas needed to come to the United States and shop. Chinese
tourists spend an average $6,000 during a U.S. visit – more than twice
United Kingdom tourists – but it takes two months for the State
Department to process their visa applications. NRF is a member of the
Discover America Partnership coalition, which wants to reduce the wait
to 10 days.
As the world's largest retail trade association and the voice of retail
worldwide, the National Retail Federation's global membership includes
retailers of all sizes, formats and channels of distribution as well as
chain restaurants and industry partners from the United States and more
than 45 countries abroad. In the United States, NRF represents the
breadth and diversity of an industry with more than 1.6 million American
companies that employ nearly 25 million workers and generated 2010 sales
of $2.4 trillion. www.nrf.com
National Retail Federation
J. Craig Shearman, 202-626-8134
shearmanc@nrf.com
www.nrf.com/WLC
Source: National Retail Federation
