The National Retail Federation issued the following statement from President and CEO Matthew Shay in response to the recent Congressional passage of the Emergency Coronavirus Relief Act of 2020.
“Retailers are encouraged by the passage of this economic relief package that will keep the economy open and moving in the right direction as the fight against the COVID-19 pandemic continues. The additional stimulus and extension of expired relief measures will help protect families, support health care providers and sustain small and independent businesses. The November retail sales report shows that consumers held back on spending, and more robust stimulus is needed to shore up our economy. These are trying times for many American families, and a strong stimulus bill is critical to the continued recovery of the economy and the retail industry, which creates employment for 52 million working Americans,” Shay explained.
He added, “The retail industry has invested billions of dollars throughout the pandemic to ensure the health and safety of employees and customers. NRF will continue to advocate for financial relief for American workers, families and businesses impacted by the coronavirus. Our hope is this latest stimulus will be a NRFdown payment on economic relief next year.”
The National Retail Federation, the world’s largest retail trade association, passionately advocates for the people, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $3.9 trillion to annual GDP and supporting one in four U.S. jobs — 52 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies. NRF.com