National Retail Federation touts Senate’s tax reform bill as vote nears
The NRF, which represents the retail industry from big box stores to
"The retail industry has borne the full brunt of the corporate tax rate,"
The NRF says retailers pay one of the highest average corporate tax rates. "Lowering the rate will help large and small retailers by allowing them to take the money they would have spent on taxes and plow it back into their business," French said.
Retail analyst
While the bill proposes to slash corporate taxes starting in 2019, it would lower the rates paid by individuals and families only through 2025. It would also repeal a portion of the Affordable Care Act that sets up penalties if Americans don't sign up for health insurance.
The Urban-Brookings Tax Policy Center, which provides independent analysis of current and longer-term tax issues, questioned the promised tax break amount for middle-income families under the
"The
Glickman added: "On average, higher-income households would get larger tax cuts than those with low- and moderate-incomes. But the averages mask those disparate and idiosyncratic effects."
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