WASHINGTON – As Congressional Democrats and the Biden Administration are negotiating a framework for the multitrillion-dollar reconciliation bill, the National Retail Federation is launching an advertising campaign to educate the public that despite the claims that the bill costs nothing, businesses and consumers will be paying for it.
“NRF created this campaign to ensure American job creators and workers understand that funding this spending bill will cost trillions of taxpayer dollars.”NRF President and CEO Matthew Shay
“NRF created this campaign to ensure American job creators and workers understand that funding this spending bill will cost trillions of taxpayer dollars,” NRF President and CEO Matthew Shay said. “Raising taxes on businesses, particularly small businesses, as they are still struggling from the economic impact of the pandemic and adding costs to consumers who are already facing record-setting inflationary headwinds is not the right path forward. There must be a better way to pay, and NRF is calling on the Biden Administration and Congress to find it.”
NRF’s campaign includes a 60-second television ad called “There’s Something Called a ‘Reconciliation Bill’” and a 30-second television ad called “There Must be a Better Way,” as well as digital and social media ads. “There’s Something Called a ‘Reconciliation Bill’” states: “Some in Washington say raising these trillions won’t cost anyone anything. But we all know nothing’s for free. The government doesn’t make money, the government only takes money. Reality is ... these trillions will come from all our pockets.”
“Unlike the bipartisan infrastructure legislation, which we support, this bill requires new taxes. Congress and the Administration were successful in finding sources of funding that did not require raising taxes, and we believe they should take the same approach with the reconciliation bill,” said Shay.
The six-figure ad buy will run across major television networks and digital platforms the week of Oct. 25 leading up to Congress’ goal of an Oct.31 deadline for action.
Visit nrf.com/trillions for more information about the campaign.
In addition to the ad campaign, NRF recently delivered a letter to Congressional leadership voicing concerns that a tax increase would make the U.S. corporate tax rate among the highest in the industrialized world. The U.S. retail industry pays one of the highest effective tax rates of any industry, benefitting from few of the tax incentives or credits in the Internal Revenue Code.
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