Today, the Retail Leaders Association (RILA), the trade association for America’s most recognized and innovative brands, issued a statement praising the House passage of the “Tax Cuts and Jobs Act”:
“We are thankful the House moved swiftly to pass this important legislation that will give America’s retailers and consumers a break. America’s current tax code is in dire need of an update. Retailers pay one of the nation’s highest effective corporate tax rates which is why we are pleased to see the corporate tax rate permanently reduced to 20 percent. This will allow savings to be reinvested to grow, add jobs and serve customers. Further, we enthusiastically support the tax relief provided to individuals, specifically targeted to middle class taxpayers. Tax reform that works for retailers and customers is vital to keep our economy growing. We thank the House for listening to America’s retailers and our consumers, and urge the Senate to move forward on passing their proposal,” 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.