Interviews
Retailers welcome Economic Stimulus Agreement
25 Jan '08
3 min read
Under the agreement, individuals who pay taxes would receive checks of up to $600, working couples would receive up to $1,200 and couples with children would receive an additional $300 per child. Workers who make at least $3,000 but don't pay income taxes would receive $300.
NRF is leading the retail industry's efforts to convince the Bush Administration and Congress to enact economic stimulus legislation.
The NRF Board of Directors on January 15 unanimously passed a resolution calling for stimulus legislation that would put money into the pockets of consumers, and NRF on January 17 wrote to President Bush and congressional leaders to urge passage of stimulus legislation.
NRF's action followed the Commerce Department's January 15 announcement that retail sales for December (excluding automobiles, gas stations and restaurants) rose 1.7 percent unadjusted over 2006 and decreased 0.4 percent seasonally adjusted from November.
Combined November-December holiday sales increased 3 percent over 2006, which was the lowest increase since 2002, when holiday sales rose 1.3 percent.
NRF's 2008 economic forecast, calling for a 3.5 percent increase in retail sales over 2007, the smallest since sales grew 3 percent in 2002, is based on the assumption that both the Federal Reserve and Congress would take action on economic stimulus.
NRF is leading the retail industry's efforts to convince the Bush Administration and Congress to enact economic stimulus legislation.
The NRF Board of Directors on January 15 unanimously passed a resolution calling for stimulus legislation that would put money into the pockets of consumers, and NRF on January 17 wrote to President Bush and congressional leaders to urge passage of stimulus legislation.
NRF's action followed the Commerce Department's January 15 announcement that retail sales for December (excluding automobiles, gas stations and restaurants) rose 1.7 percent unadjusted over 2006 and decreased 0.4 percent seasonally adjusted from November.
Combined November-December holiday sales increased 3 percent over 2006, which was the lowest increase since 2002, when holiday sales rose 1.3 percent.
NRF's 2008 economic forecast, calling for a 3.5 percent increase in retail sales over 2007, the smallest since sales grew 3 percent in 2002, is based on the assumption that both the Federal Reserve and Congress would take action on economic stimulus.
National Retail Federation
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