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3 associations recommend stimulus measures to US Congress
01 May '20
2 min read
Pic: Shutterstock
The American Apparel & Footwear Association (AAFA), the Council of Fashion Designers of America (CFDA) and the Travel Goods Association today sent a letter to the US Congress recommending future stimulus measures to help US businesses as the country emerges from the COVID-19 pandemic. The letter was sent to House speaker Nancy Pelosi and three other lawmakers.
The recommendations include specifics on programmes developed by the CARES Act, trade policy programs and procedures, tax credits and initiatives that have been proposed by members of the US Congress.
The letter suggests modifications to programmes in the CARES Act to provide liquidity to more companies and to help companies keep more Americans on payroll and requests extension of duty payment deferrals and tariff relief to include those products that have been excluded to date, such as those hit with duties under the Section 301 tariffs.
It also requests renewal of trade preference programmes; expansion of tax credits, business interruption insurance, and liability protection; and support for childcare funding to help families get back to work..
“While the CARES Act and other measures have provided the liquidity and cash flow to fill a few of the gaps, there are many more that need to be addressed, particularly to help companies who have been on the front lines of repurposing factories and supply chains to make and distribute items of personal protective equipment,” said AAFA president and chief executive officer (CEO) Steve Lamar in a press release.
"While Congressional action put in place programs that provide support for businesses during the pandemic, additional relief is needed," said CFDA president and CEO Steven Kolb.
"The small, mostly family-owned businesses that comprise the US travel goods industry....face a unique dual challenge: stay afloat while virtually all travel is banned and all retail is shut down," said Michele Marini Pittenger, president and CEO of the Travel Goods Association.
The recommendations include specifics on programmes developed by the CARES Act, trade policy programs and procedures, tax credits and initiatives that have been proposed by members of the US Congress.
The letter suggests modifications to programmes in the CARES Act to provide liquidity to more companies and to help companies keep more Americans on payroll and requests extension of duty payment deferrals and tariff relief to include those products that have been excluded to date, such as those hit with duties under the Section 301 tariffs.
It also requests renewal of trade preference programmes; expansion of tax credits, business interruption insurance, and liability protection; and support for childcare funding to help families get back to work..
“While the CARES Act and other measures have provided the liquidity and cash flow to fill a few of the gaps, there are many more that need to be addressed, particularly to help companies who have been on the front lines of repurposing factories and supply chains to make and distribute items of personal protective equipment,” said AAFA president and chief executive officer (CEO) Steve Lamar in a press release.
"While Congressional action put in place programs that provide support for businesses during the pandemic, additional relief is needed," said CFDA president and CEO Steven Kolb.
"The small, mostly family-owned businesses that comprise the US travel goods industry....face a unique dual challenge: stay afloat while virtually all travel is banned and all retail is shut down," said Michele Marini Pittenger, president and CEO of the Travel Goods Association.
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