The National Retail Federation issued the following statement from President and CEO Matthew Shay in response to the U.S. House of Representative’s approval of the Coronavirus Aid, Relief and Economic Security (CARES) Act:
"Retailers are encouraged by the House’s quick passage of the CARES Act which will provide critical financial relief for American workers, families and small businesses impacted by the coronavirus outbreak. This unprecedented time requires extraordinary measures, and we thank Speaker Pelosi and Minority Leader McCarthy for their leadership in spearheading such complex legislation in a bipartisan fashion. This economic relief package provides a crucial bridge for the millions of American retail businesses and the retail jobs that will help support the U.S. economy through this challenging time.”
The National Retail Federation, the world’s largest retail trade association, passionately advocates for the people, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $3.9 trillion to annual GDP and supporting one in four U.S. jobs — 52 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies.