NRF Wants Sales Tax Holidays
The National Retail Federation has its own plan for economic stimulus- a series of national sales tax holidays. The group's senior vice president, Steve Pfister, asked for the policy in testimony to the U.S. Senate last week.
“While the legislation currently under consideration includes a number of provisions designed to produce long-term economic growth and job creation, we are extremely concerned that it does not do enough to immediately stimulate consumer spending or to preserve the tens of millions of jobs that consumer spending supports,” Pfister told a Senate committee. “With consumer spending representing two-thirds of GDP, it is difficult if not impossible to foresee an improvement to overall economic growth until consumers regain confidence and resume spending.”