WASHINGTON — The National Retail Federation announced that it has sent a letter to the congressional “super committee” on deficit reduction urging the panel to focus on initiatives that will boost the economy and create jobs.
“While we realize that the basic mandate of the committee is to bring revenue and spending into balance, we urge members to have a broad outlook when considering the options for achieving that goal,” NRF SVP government relations David French said in the letter. “We firmly believe that policies that encourage job creation and economic growth are the ultimate answer to deficit reduction – more jobs means more Americans earning a paycheck and more paychecks mean more tax revenue coming into the Treasury. Putting Americans back to work can let us work our way out of the deficit without the need for draconian cuts in essential services or punitive increases in taxes that are already too high.”
The Joint Select Committee on Deficit Reduction is scheduled to hold its first meeting on Sept. 8. Created under legislation signed into law last month to increase the federal debt ceiling and made up of equal numbers of Democrats and Republicans from the House and Senate, the 12-member panel has until Nov. 23 to recommend $1.5 trillion in deficit reduction to be implemented over the next 10 years.
NRF said it is encouraging the committee to consider corporate tax reform, eliminating special tax breaks for a few industries in return for lower corporate rates for all businesses; legislation making it easier for states to require out-of-state Internet retailers to collect sales tax on sales to their residents; and a repeal or delay of implementation of the Patient Protection and Affordable Care Act, particularly the employer mandate provision that requires most employers to provide government-mandated levels of health care coverage for their workers beginning in 2014.