NRF bullish on new tax package
The National Retail Federation welcomed the recently passed tax measure, saying it will dramatically benefit businesses, workers and consumers.
“This is landmark legislation that will boost our nation’s economy more than anything we have seen in decades,” NRF president and CEO Matthew Shay said. “Retailers are winners under tax reform since our industry receives few of the tax breaks that benefit other sectors of the economy and pay the highest effective tax rate of any industry. Lower taxes will help us grow our businesses and offer our customers better value.”
NRF analysis shows that cutting the corporate tax rate will save large businesses enough to create between 500,000 and 1.5 million while reducing taxes for “pass-throughs” will benefit the small retailers that make up 95% of the industry.
“This is landmark legislation that will boost our nation’s economy more than anything we have seen in decades,” NRF president and CEO Matthew Shay said. “Retailers are winners under tax reform since our industry receives few of the tax breaks that benefit other sectors of the economy and pay the highest effective tax rate of any industry. Lower taxes will help us grow our businesses and offer our customers better value.”
NRF analysis shows that cutting the corporate tax rate will save large businesses enough to create between 500,000 and 1.5 million while reducing taxes for “pass-throughs” will benefit the small retailers that make up 95% of the industry.