Today the Retail Industry Leaders Association (RILA), the trade association for America's largest and most innovative retail brands, issued a statement following the final House passage of comprehensive tax reform legislation.
"Retailers have long advocated for comprehensive tax reform that eases the tax burden that American consumers and businesses face. Today, with the final passage of comprehensive tax reform and the President's signature imminent, the goal of a fairer, more globally competitive tax code that provides middle income taxpayers with critical relief will soon be realized. We applaud the President and Congress for their commitment to reforming the tax code and we look forward to working with the Administration on the implementation of these critical reforms," said RILA President Sandy Kennedy.
"Retailers have traditionally paid one of the highest effective corporate tax rates. A fairer and more competitive tax code will give retailers the ability to modernize stores, invest in their workforce and continue to transform the shopping experience for consumers. The fierce competition of today's retail environment means the ultimate winner in tax reform will be our customers."
RILA is the trade association of the world's 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.