Retail Industry Leaders Association Inc.
06/27/2024 | Press release | Distributed by Public on 06/27/2024 12:14
Retailers Want Debate Remarks to Reflect Real Impact
Retailers Want Debate Remarks to Reflect Real Impact
- Washington, DC
- 06/27/2024
"In a presidential election, candidates yield considerable influence over policies that have extraordinary implications for the American people. And while debates provide opportunities for candidates to share their desired and distinguished approach on issues, they should not be vehicles for promoting policy agendas that will weaken the American economy and harm consumers.
"The federal policy decisions made over the next four years will have major impacts on America's leading retailers. How the next president deals with corporate taxes and international trade will dictate how retailers operate, invest in their workforce and local communities-millions of jobs and billions in supply chain investments and economic development will be impacted by these decisions. We hope the candidates from both political parties address these issues with the seriousness they deserve."
Taxes:
"Retailers support a tax code that is stable, fair and promotes investment, job growth and innovation. We staunchly oppose any increase to the current corporate tax rate because retailers already pay among the highest effective tax rates of any industry. Leading retailers supported the corporate minimum tax of 15% to ensure all profitable companies pay their fair share. The current corporate tax rate has made America more competitive globally, and our post-pandemic economic recovery compared to other developed nations is all the evidence policymakers should need for keeping corporate tax rates where they are today."
Tariffs:
"Retailers want to see the U.S. government focused on smart trade policy that opens new markets, reduces tariff and non-tariff barriers, and addresses unfair trade practices without unnecessary collateral damage to American businesses and consumers. Tariffs levied on consumer products serve no strategic purpose, as they are taxes on the products American families buy every day. Over the next four years, retailers hope to see tariffs on consumer products removed and replaced with a more strategic national security approach to international trade that does not put the burden on American consumers."
###
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 $2.7 trillion in annual sales, millions of American jobs, and hundreds of thousands of stores, manufacturing facilities, and distribution centers domestically and abroad.
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 $2.7 trillion in annual sales, millions of American jobs, and hundreds of thousands of stores, manufacturing facilities, and distribution centers domestically and abroad.