The National Retail Federation (NRF) has expressed its support for the House-passed Tax Relief for American Families and Workers Act (H.R. 7024), urging the Senate to find a path forward ahead of Thursday’s expected vote.
“This pivotal bipartisan bill aims to reignite key pro-growth policies: immediate research and development expensing, full expensing for equipment and technology purchases, and a sensible business interest deduction. These measures are crucial for driving domestic investment, sparking innovation, and creating jobs for American workers,” said David French, Executive Vice President of Government Relations at NRF.
French highlighted the benefits of enabling businesses to invest in state-of-the-art technologies, which he believes will help retailers enhance operational efficiency across the industry. “The reinstated full expensing for equipment and machinery will provide critical relief to retailers large and small, helping them modernize, adapt to shifting consumer trends, and stay competitive in a rapidly evolving market. Additionally, a streamlined business interest deduction will alleviate financial pressures on retail enterprises, fostering growth and building a robust, resilient retail ecosystem.”
“NRF strongly supports this legislation, which promises a stronger, more dynamic economy that benefits American families and workers,” French added.
As the leading authority and voice for retail, NRF continues to champion policies aimed at driving economic growth.
The National Retail Federation advocates passionately for the people, brands, policies, and ideas that help retail succeed. Headquartered in Washington D.C., NRF represents an industry that is the nation’s largest private-sector employer. Retail contributes $5.3 trillion annually to GDP and supports over one in four U.S. jobs—55 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job.
