NRF on shutdown deal: A relief, but not a solution
The National Retail Federation (NRF) has followed up its previous statements regarding the government shutdown with a critique of the bipartisan deal reached late last night by the Senate and the House.
“While there is some satisfaction at achieving a deal, today’s agreement between the House and Senate merely ensures more opportunities to continue the debate while avoiding tough decisions about our economic future," said NRF president and CEO Matthew Shay.
“As we head into the holiday shopping season, retailers and consumers need stability and certainty from policymakers in Washington and assurance that the economy will not implode due to their actions or more important, lack thereof. This new norm of legislating from crisis to crisis is no way to govern."
"Our economic recovery is retail-led and consumer-driven, and political leaders on both ends of Pennsylvania Avenue need to stop undermining consumer confidence with partisan posturing. When consumers cut back their spending, it threatens jobs in every industry. If it’s bad for retail, it’s bad for the economy, and ultimately the biggest losers are American taxpayers."
“Today’s decision will provide some breathing room for legislators to negotiate and compromise, but it is not a solution to our long-term economic or fiscal challenges," Shay concluded.