RILA: Retailers say no ‘Sacred Cows’ in corporate tax reform
Arlington, Va. — The Retail Industry Leaders Association said Monday via a written letter to the House Ways and Means Committee that all corporate tax preferences need to be “put on the table” so that politics can be neutralized and progress can be made.
“Consistent with the tax reform vision put forth by Chairman Camp, RILA believes that all corporate tax preferences need to be put on the table in order to give the Committee as much latitude as possible to reduce the corporate rate in a revenue-neutral fashion,” said Bill Hughes, senior VP of government affairs, RILA, in the letter to the Ways and Means Working Group on Income and Tax Distribution. “RILA also strongly supports the Chairman’s goal of reducing the corporate tax rate to 25%.”
The letter cited a PwC study commissioned by RILA last year that highlighted the impact the retail industry has on the economy. The study found the retail industry to be the second largest private-sector employer in the U.S., and also that the retail sector incurs a domestic effective tax rate of 36.4%, fourth highest among the18 major industries and more than 10 percentage points higher than the average for all other industries. Given the enormous employment footprint of the retail industry, comprehensive tax reform could stimulate job growth in the retail sector and the industries supported by retail.
According to RILA, comprehensive tax reform that eliminates preferences, substantially lowers rates and simplifies the tax code will put more money in consumers’ pockets, allow small businesses to grow and free U.S. retailers to compete globally, invest, expand their businesses, and most importantly, create new jobs.
“From our perspective, the ideal tax reform will provide for a substantial reduction in the tax rate for corporations and a substantial reduction in the tax rate for individuals and pass-through entities,” wrote Hughes.
Stater Bros. breaks ground on larger California supermarket
San Bernardino, Calif. — Stater Bros. announced Monday the construction start to its newest and most modern supermarket, slated to open in the Redlands Village Shopping Center — a grocery-anchored center being developed by Upland, Calif.-based Lewis Retail Centers in San Bernardino, Calif.
The 44,000-sq.-ft. store will replace a nearby store that is half that size. The larger format will allow wider aisles, outdoor seating and a variety of departments and amenities, and is slated to open in September.
Dickies launches ‘Shop and Compare’ on Dickies.com
Fort Worth, Texas — Work wear brand Dickies said Monday it has launched an online tool called Shop and Compare, which allows users to compare products side by side.
The new Shop and Compare app gives customers the ability to view up to three different pants or shirts side by side along with a detailed display of the price, fabric, fit, color, and description of each garment.
"We are pleased to launch an innovative work wear tool that allows workers to make product selections that will best meet their personal needs," said Matthew McCartin, head of marketing for Williamson-Dickie Mfg. Co.