Retailers Disappointed in Tax Plan that Raises Rates
Plan Continues to Permit Other Companies to Pay Nothing
- By [ Hana Greenberg ]
- Washington, DC
Hana Greenberg, vice president of tax at the Retail Industry Leaders Association issued the following statement in response to the draft tax plan released today by House Democrats:
“Leading retailers are extremely disappointed to see a tax draft that raises rates on retailers who already pay high marginal rates while allowing profitable companies to pay little to nothing in domestic corporate taxes. This is an enormous policy failure and is blatantly unfair to retailers operating in every community who pay their full freight in taxes.”
“If Democrats are serious about making sure everyone pays their fair share in taxes, a giant tax increase on industries already paying high rates while failing to address the uneven burdens in the current tax code, fails to meet that standard. This draft is non-starter for retailers.”
The Retail Industry Leaders Association sent a letter to lawmakers last week pushing policymakers to ensure all profitable companies pay their fair share in corporate taxes before they consider raising the corporate tax rate. As this budget draft is considered, RILA will advocate for a fairer tax code that ensures all profitable companies share a more equitable tax burden to ensure more competitive tax rates for all industries.
RILA is the US trade association for leading retailers. We convene decision-makers, advocate for the industry, and promote operational excellence and innovation. Our aim is to elevate a dynamic industry by transforming the environment in which retailers operate.
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.
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