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Retailers urge House to approve economic stimulus bill
30
Jan '08
The National Retail Federation urged the House to approve economic stimulus legislation scheduled for a vote, and also cautioned lawmakers against adding new provisions that could delay enactment of the measure.

“This legislation is simple, targeted economic stimulus that will quickly put money into consumers' pockets where it can boost economic growth by creating demand throughout all sectors of the economy,” NRF Senior Vice President for Government Relations Steve Pfister said in a letter to members of the House.

“Given the financial stress that consumers will be under in the coming year, stimulus legislation is essential to the health of our nation's economy and to the jobs that rely upon the strength of that economy.”

The House is scheduled to vote on H.R. 5140, the Recovery Rebates and Economic Stimulus for the American People Act of 2008, sponsored by Speaker Nancy Pelosi, D-Calif., and Minority Leader John Boehner, R-Ohio.

The measure would implement the agreement reached last week between Pelosi, Boehner and Treasury Secretary Henry Paulson calling for a system of tax rebate checks of up to $600 per individual and $1,200 per married couple, plus $300 per child for families with children. The rebates are subject to income limits, and the legislation also includes tax relief for businesses that make investments intended to create jobs.

Pfister said today's consideration of the bill would be counted as a key vote in NRF's annual ranking of lawmakers on issues important to the retail industry.

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