Retailers Want a Bailout Too
First commercial real estate groups ask for a bailout. Now retailers want in on the action and are asking for a sales tax holiday.
Facing a disastrous holiday shopping season, the retail industry on Tuesday urged President-elect Barack Obama to incorporate three national tax-free shopping holidays in 2009.
The group wants the measure to be included in Obama’s stimulus efforts.
“The situation is critical,” the National Retail Federation (NRF) wrote in a letter to Obama. “In October, consumer confidence was at its lowest level in the 41 years. We urge you to act quickly on legislation to help stimulate consumer spending as one of the first priorities of your new administration,” the NRF said.
So far, most of the ideas under consideration as part of the stimulus package vary widely, but do not include a plan for a tax holiday.
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