Invest in U.S. Jobs
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NRF supports policies that promote efficiency in taxes and regulation to generate investment and create jobs. At 35 percent, the U.S. corporate tax rate is the highest of any major industrialized nation and hampers job creation by keeping U.S. companies from being competitive in the global economy. NRF supports comprehensive tax reform that would eliminate tax breaks that benefit only a few industries in return for lower rates for all businesses, including both corporations and small businesses. NRF strongly opposes any form of value added tax or consumption tax, which would be devastating for the consumer spending that makes up two-thirds of the U.S. economy and the millions of jobs supported by that spending. And NRF wants to level the playing field on sales tax by letting states require online sellers to collect sales tax the same as local stores, ending the unfair Internet price advantage that makes it increasingly difficult for Main Street merchants to keep their doors open and continue creating local jobs.
- Sales Tax Fairness – The jobs created by Main Street retailers and the contributions they make to their communities should be protected by requiring online sellers to collect sales tax the same as local stores.
- Comprehensive Tax Reform – With the 35 percent U.S. corporate tax rate the highest among major nations, Congress needs to “broaden the base” by eliminating special tax breaks that benefit a few industries and lowering tax rates for all businesses in order to restore U.S. competitiveness in the global marketplace.
- No VAT – Proposals for a value added tax, national retail sales tax or other form of consumption tax should be rejected because studies show they would discourage the consumer spending that makes up two-thirds of the economy.
- Regulatory Reform – Policymakers should eliminate or streamline federal regulations that interfere with job creation and economic growth.
The NRF Retail Opportunity Index encourages Congress to:
- Invest in U.S. jobs by implementing tax policy that makes U.S. companies competitive in the global economy and provides a level playing field among all sectors of the economy and all sectors of retail whether the merchant delivers its product in a store, through the mail or over the Internet.
- Open markets for consumer goods by tearing down trade barriers that drive up prices for American shoppers and limit export markets for American companies, ending regulations that artificially drive up prices, and making it easier for foreign visitors to come to the United States to shop.
- Modernize U.S. infrastructure by improving and expanding the current transportation system in order to end bottlenecks and inefficiencies and to make it easier for American companies to grow and be competitive.
- Support workforce investment by supporting jobs and economic growth rather than union organizers and expensive new regulations and mandates.
- Foster innovation in customer experience by working with retailers to improve credit and debit card security through agreed-upon standards rather than bank-issued mandates, and to protect privacy while still being able to give shoppers a customized and personalized experience online and in store.
- Promote technology development by passing reform legislation that would block frivolous lawsuits threatened by “patent trolls” over dubious infringement claims.
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