Today, the Retail Industry Leaders Association (RILA), the trade association for today's most recognized and innovative retail brands, issued a statement following the unveiling of the House GOP's Tax Cuts and Job Act:
"America's retailers pay among the highest effective corporate tax rates among all industries, which is why retailers are committed to reform that lowers rates for retailers and the customers they serve. While we continue to review the details, we are strongly encouraged by the House proposal to reduce taxes on the middle class and permanently lower the corporate tax rate to 20 percent. Tax reform that works for American businesses and families is vital to helping our economy grow. We look forward to working with Congress and the Administration to pass reform that works for retail, our customers and the economy," said Jennifer Safavian, executive vice president of government affairs for RILA.
RILA is the trade association of the worlds largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs, and more than 100,000 stores, manufacturing facilities, and distribution centers domestically and abroad.