NRF Urges Senate to Pass Economic Rescue Package

Business Wire, Oct 1, 2008

WASHINGTON -- The National Retail Federation urged the Senate to pass legislation scheduled for a vote this evening that would provide relief from the current financial crisis. The passage of this key vote, quickly and without partisanship, is important as it addresses the profound crisis that is threatening the viability of our nation's financial system and the very foundations of our economy.

"Our nation faces the prospect of an unprecedented financial calamity which will impact all Americans and every sector of our economy," NRF Senior Vice President for Government Relations Steve Pfister said. "If Congress does not pass this legislation without delay, the ability of American consumers and businesses to obtain the credit needed to keep our economic engine running and pave the road to economic recovery will be irreparably damaged."

The Senate is scheduled to vote today on H.R. 1424, the Emergency Economic Stabilization Act of 2008. Visit www.nrf.com to read the letter.

The National Retail Federation is the world's largest retail trade association, with membership that comprises all retail formats and channels of distribution including department, specialty, discount, catalog, Internet, independent stores, chain restaurants, drug stores and grocery stores as well as the industry's key trading partners of retail goods and services. NRF represents an industry with more than 1.6 million U.S. retail companies, more than 25 million employees - about one in five American workers - and 2007 sales of $4.5 trillion. As the industry umbrella group, NRF also represents over 100 state, national and international retail associations. www.nrf.com