Why this Matters to Retail
The high effective tax rate imposed on the retail industry also undermines retail's international competitiveness. Global retail competitors enter the U.S. market with advantages arising from favorable tax policy in their home countries. Yet, as U.S. retailers serve global customers, our current system of taxing worldwide income further constrains retailers' ability to compete and grow. Domestically, loopholes in the current tax code result in favorable treatment of some industries and businesses at the expense of others. The tax code should treat corporate income tax payers equally and not give special treatment to some because of what they do, how they do it or the channel through which they operate.
This is an unprecedented opportunity to pass a tax reform plan that benefits both businesses and consumers. RILA is committed to continue our work with Congress and the Administration to support reforms that create a fairer and more dynamic economy for all Americans.