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AAFA supports Emergency Economic Stabilization Act

Oct '08
Today, the American Apparel & Footwear Association (AAFA) called on Congress to approve the Emergency Economic Stabilization Act, commonly referred to as the bailout, in a letter sent to all members of Congress. Together with a broad coalition of business groups, AAFA also sent a joint letter urging passage of the legislation this week.

“Today's financial crisis isn't limited to niche markets of Wall Street,” said Kevin M. Burke, president and CEO, AAFA. “The credit crunch is affecting everyone from apparel and footwear businesses that rely on lines of credit in daily operation to families trying to buy their first home.”

In its letter to Congress, AAFA noted the vital role credit plays in the continuation of business operations for much of the economy and in the daily lives of America's hardworking families.

“Hundreds of thousands of families depend on the footwear and apparel industries for their family pay check, and depend on credit for important purchases like a new family car,” continued Burke. “Americans are already feeling the squeeze and Congress should no longer delay sending them help. The Emergency Economic Stabilization Act should be passed now.”

American Apparel & Footwear Association

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