NRF asks for tax relief for consumers

WASHINGTON Representatives of a trade association representing retailers asked a congressional committee considering possible economic stimulus initiatives to include a second round of tax rebate checks or other direct relief for consumers.

The National Retail Federation addressed members of Congress Wednesday as consumer confidence was reported at record lows and retailers expected the weakest holiday season in six years.

“With most economists predicting a weak economy into 2009 and consumer spending at record lows, NRF believes additional congressional action would help the economy and soften the negative impact on the American people,” NRF vice president and tax counsel Rachelle Bernstein said. “We believe an immediate stimulus that will put money into the pockets of consumers where it can have a ripple effect throughout the economy is needed.”

The comments came in written testimony submitted to the House Ways and Means Committee, which had a hearing on potential economic stimulus Wednesday morning. No legislation has been introduced, but the panel heard from a large number of organizations and public officials on a variety of solutions intended to aid in economic recovery and job creation.