Home / Knowledge / News / Apparel/Garments / NRF urges US Govt. to put federal debt ceiling on hold
NRF urges US Govt. to put federal debt ceiling on hold
24
Jan '13
The National Retail Federation urged the House to approve legislation that would put the federal debt ceiling on hold until mid-May.

“This move will give Congress the time it needs to deal with the debt ceiling in a thoughtful and deliberative manner rather than letting it turn into another fiscal cliff,” NRF President and CEO Matthew Shay said. “Fiscal policy discussions need to take place in a way that provides the stability and certainty our economy needs to grow and create jobs, and should not be left to last-minute deals and midnight votes.”

“Giving Congress a powerful incentive to pass a federal budget is an important part of this bill,” Shay said. “Living within a budget is the key to prudent management of our nation’s fiscal health in the first place. Every single day, retailers make tough decisions about their finances in order to pay their employees and to work within their budgets, and our government should do the same.”

The House is scheduled to vote on legislation that would leave the current $16.4 trillion debt limit intact but says that it “shall not apply” until May 18. Without legislation, the debt ceiling could be hit in mid-February. The measure also mandates that paychecks for members of the House and Senate be held in escrow beginning April 15 if lawmakers have not passed a budget.

As the world’s largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad.

Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy.

National Retail Federation


Must ReadView All

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X