Home / Knowledge / News / NRF calls on Congress to hold Lame Duck Session on economy
NRF calls on Congress to hold Lame Duck Session on economy
Oct '08
The National Retail Federation called on Congress to hold a lame duck session to address the nation's economy as soon as possible after the November elections, and to include tax relief for consumers in any economic stimulus package that is adopted.

“The United States is in the midst of a national crisis,” NRF President and CEO Tracy Mullin said. “Extraordinary measures are needed to address this profound economic emergency that has affected every American.”

“Consumer confidence has been badly eroded by the foundering economy and instability of the financial markets,” Mullin said. “Because consumer spending represents two-thirds of GDP and supports tens of millions of jobs, it is difficult if not impossible to foresee an improvement in overall economic growth until consumer confidence and spending improve.”

“There is hard evidence that the first round of economic stimulus checks were used for good purposes: to pay down debt, to help fund ordinary household expenses, and to purchase necessities. But we believe a second round of economic stimulus is needed and must include relief for the consumer. Increased consumer spending would create demand throughout all sectors of the nation's economy, from manufacturing to transportation to construction.”

Mullin's comments came in a letter sent today to House Speaker Nancy Pelosi, D-Calif.; House Minority Leader John Boehner, R-Ohio, Senate Majority Leader Harry Reid, D-Nev., and Senate Minority Leader Mitch McConnell, R-Ky.

Pelosi said this week that the House is considering a lame duck session after the November 4 elections to consider economic stimulus legislation. The Senate is already scheduled to return November 17, although the agenda for the Senate session has not been determined.

Talk of a lame duck session and economic stimulus legislation comes as retailers are facing the worst holiday season in six years. NRF's annual forecast predicts sales will rise 2.2 percent to $470.4 billion, but that would be the slowest growth since 2002, when holiday sales rose 1.3 percent, and half the 10-year average of 4.4 percent.

A survey conducted for NRF this summer found consumers had spent or planned to spend 46 percent of the $105.7 billion in rebate checks authorized under the economic stimulus bill President Bush signed into law in February. That would amount to about $48 billion put into circulation in the economy, with most of the rest used to pay down debt or put into savings to help stimulate future spending.

National Retail Federation

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search