With Economy at Stake, NRF Calls on Congress to Set Aside Partisanship and Pass Legislation Addressing Financial Crisis

Business Wire, Sept 25, 2008

WASHINGTON -- The National Retail Federation today called on Congress to set aside partisan differences and act immediately on legislation to address the nation's financial crisis.

"This week Congress is engaged in negotiations to address the most profound domestic crisis in decades, one that is threatening the very foundations of our economy," NRF President and CEO Tracy Mullin wrote in a letter to all members of the House and Senate. "On behalf of the National Retail Federation and the entire retail industry, I urge you to put politics aside and support legislative efforts to provide stability and integrity to our financial system."

"Passage of this critical initiative is extremely time sensitive," Mullin said. "If Congress does not act quickly, the liquidity of more financial institutions could be imperiled and the linchpin of our economic engine - credit and lending - will drastically decline or cease altogether."

"This crisis is not just about Wall Street versus Main Street," Mullin said. "It is about the two-way street that is our nation's financial system, and it directly affects every American and every facet of our nation's economy. Congress must act expeditiously and without partisanship. The nation and the world are watching."

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