America's Leading Retailers Back Marketplace Fairness Act
ARLINGTON, Va., Feb. 14, 2013 /PRNewswire-USNewswire/ -- The Retail Industry Leaders Association (RILA) applauded reintroduction of federal legislation introduced today that closes the decades-old loophole that gives special treatment to online-only retailers. In a letter to Senate and House sponsors of the Marketplace Fairness Act, RILA Executive Vice President for Public Affairs Katherine Lugar, highlighted the need for a level playing field.
"The retail industry has always been fiercely competitive with merchants competing every day for consumer dollars based on price, value, services and other factors. But today, Main Street merchants compete on a playing field that has been skewed against them due to a loophole that allows online-only retailers to evade collecting state sales taxes. This practice has given these sellers a perceived price advantage of up to ten percent, a competitive edge that results in government policy picking winners and losers in the free market."
Encouraging lawmakers to act in 2013 on this important priority for the retail industry, Lugar touted the legislation's broad bipartisan appeal and its importance to local communities.
"This state's rights approach has the blessing of governors and state legislators throughout the country, in addition to the Main Street merchants who invest locally by hiring employees, paying property taxes and contributing to their communities."A full copy of the letter to House and Senate cosponsors can be found below: House Letter Senate Letter RILA is the trade association of the world's largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs and more than 100,000 stores, manufacturing facilities and distribution centers domestically and abroad. SOURCE Retail Industry Leaders Association
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts