WASHINGTON, D.C. – May 3, 2017— More than 200 supermarket industry CEOs and senior executives, representing nearly every state from across the U.S., rallied on Capitol Hill to discuss federal policies affecting their businesses at the annual Day in Washington fly-in. Food retail and supermarket operator members from the Food Marketing Institute (FMI), the National Grocers Association (NGA), and the Food Industry Association Executives (FIAE) met with lawmakers to discuss the increased market competition and transparency brought by debit swipe fee reform and reforming the tax code in a way that restores predictability and stimulates capital investment.
“The grocery industry is hyper-competitive, with stores competing for customers on price, quality and service every day and averaging a narrow 1.9% profit margin every year. Debit reforms have saved customers over $30 billion since 2010,” said Leslie Sarasin, president and CEO, FMI. “Debit reforms brought transparency and predictability to the cost of accepting debit cards. Repealing these reforms would be an expensive step in the wrong direction.”
“As Congress prepares to consider tax reform legislation it’s important for the decision makers in Washington to hear directly from their main street supermarkets regarding the need for comprehensive tax reform,” said Peter J. Larkin, president and CEO, NGA. “Advocating for commonsense legislative policies, such as simplifying the tax code, achieving parity between pass-through companies and C-corps, and eliminating the death tax for family-owned businesses are important to our members so they can focus on expanding their business, creating more jobs, and boosting local economies.”
About the Food Industry Association Executives
The Food Industry Association Executives is a national professional association representing local, state and regional food association executives since 1927, who in turn represent over 95 percent of the grocery retail industry. FIAE’s mission is to provide a forum for professional growth of the members’ employees and to serve as a vehicle for the interchange of ideas and advancement of the food industry agenda.
About the Food Marketing Institute
Food Marketing Institute proudly advocates on behalf of the food retail industry. FMI’s U.S. members operate nearly 40,000 retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion. Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world. FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores. For more information, visit www.fmi.org and for information regarding the FMI foundation, visit www.fmifoundation.org.
About the National Grocers Association
The National Grocers Association (NGA) is the national trade association representing the retail and wholesale grocers that comprise the independent sector of the food distribution industry. An independent retailer is a privately owned or controlled food retail company operating a variety of formats. The independent grocery sector is accountable for close to one percent of the nation’s overall economy and is responsible for generating $131 billion in sales, 944,000 jobs, $30 billion in wages, and $27 billion in taxes. NGA members include retail and wholesale grocers, state grocers associations, as well as manufacturers and service suppliers. For more information about NGA, visit www.nationalgrocers.org.