NRF Approves Stimulus Bill But Wants More

The National Retail Federation sent a letter to Congress saying that while they support the recent stimulus bill, they would like to see national sales-tax holidays held in March, July and October. Each sale holiday would last 10 days encompassing two weekends. NRF estimates that the tax holiday could save consumers $20 billion based on the $236 billion in sales tax collected every year. Consumer spending represents 2/3 of GDP (gross domestic product) but until consumers regain confidence and resume spending it is hard to foresee an improvement to the overall economic...