In advance of this week’s votes in the U.S. House of Representatives and U.S. Senate on a package of tax extender provisions, known as the Protecting Americans from Tax Hikes (PATH) Act of 2015, RILA issued the following statement:
“RILA applauds congressional negotiators on reaching an agreement on a bipartisan package of tax extenders, which are important to large and small retailers across the country,” said Christine Pollack, vice president of government affairs. “The multi-year extenders agreement provides retailers with immediate relief and certainty, and lays the groundwork for comprehensive tax reform.”
“RILA is a steadfast supporter of enacting comprehensive tax reform – corporate, individual, and international. Retailers pay the highest effective tax rate and need comprehensive, base-broadening, rate-reducing reform. This week’s vote continues the path forward to achieving this goal.”
The PATH Act permanently extends 15-year leasehold depreciation and research and development tax credit. Additionally, the PATH Act extends for five years the work opportunity tax credit (WOTC), bonus depreciation, and CFC look-through.
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.