The National Retail Federation is backing a proposal to cut corporate taxes. According to Matthew Shay, president and chief executive at the NRF, the move will have a ripple effect on the economy, enabling businesses to hire more people, lower prices, drive demand and generally improve the economy.<\/p>\n
While the White House is slated to publish a more detailed version of the proposal later this week, President Barack Obama noted that such a plan would close loopholes and help the government lower the overall tax rate without increasing the size of the federal deficit.<\/p>\n
"While the budget overall is always a contentious issue, corporate tax reform is a unique bipartisan opportunity," Shay told The Hill.<\/p>\n
"American companies face the second-highest corporate tax rates in the world, and virtually everyone agrees that the time has come to do something about it," he added.<\/p>\n
President Obama spoke extensively about strategies that would enable small businesses – such as retail stores – to enjoy more success during his recent 2012 State of the Union address.<\/p>\n","protected":false},"excerpt":{"rendered":"
The National Retail Federation is backing a proposal to cut corporate taxes. Continue reading