Hardware Retailing The Industry's Source for Insights and Information
In a recent letter to congressional leaders, the National Retail Federation called upon both Congress and the White House to end the budget stalemate and urged both political parties to immediately pass a funding bill so that federal employees and contractors can get back to work.
“We strongly support passage of both a continuing resolution to provide for funding of the federal government into the next fiscal year and a measure to raise the nation’s debt ceiling,” NRF President and CEO Matthew Shay said in the letter.
Shay highlighted mounting economic indicators showing that the government shutdown, pointing to figures from Gallup showing that consumer confidence now measures at the same low levels as that of the 2008 economic collapse.
Shay also detailed practical problems the shutdown has created for retailers—from the lack of economic data and reports to concerns over processing of imported merchandise. He said the Census Bureau has had to delay employment and retail sales reports.
Shay said President Obama and Congress need to address policies that could entice both sides to seek a negotiated end to the government shutdown, including comprehensive tax reform, new trade programs and entitlement reform.
“It’s time for Congress to get our government back to work—and time for Congress itself to get back to work on building a strong, stable national economy that will restore the United States to its rightful place as the leader of the global economy,” Shay said.
