In a letter sent to President Obama last week, NRF president and CEO Matthew Shay and NRF chairman Terry Lundgren urged the president to advocate for policies that will help the retail industry grow and create jobs.
The letter asked President Obama to include three key issues in his speech to Congress:
- Sales tax fairness legislation "that would ease the burden on Main Street retailers who create local jobs but are under increasing pressure from online competitors" that don't have to collect tax on most sales.
- Corporate tax reform that would eliminate deductions and credits "enjoyed by a few industries in return for lowering tax rates for all businesses," enabling retailers to lower prices and increase jobs throughout the supply chain from the increased sales that would result.
- Free and open trade initiatives that would build upon recent Free Trade Agreements and remove protectionist restrictions in future FTAs.
The letter also asked President Obama to address neglected transportation infrastructure that slows down supply chains; credit card swipe fees that drive up prices for consumers; and mandates under the health care reform law they believe will threaten jobs. It also asked the Administration to speed up the visa process to make it easier for foreign visitors to come to the United States to shop.
"America's retailers want to continue growing our economy, but to do that we need Washington to embrace common-sense economic policy, remove barriers to job creation, and do so without asking for more tax dollars to foot the bill," Messrs. Shay and Lundgren wrote.