ARLINGTON, Va. (December 20, 2017) – Today, the National Grocers Association’s (NGA) president and CEO, Peter J. Larkin, issued the following statement on Congress passing the most comprehensive tax reform package in over 30 years:
“Independent grocers across the country can feel more optimistic now that a once-in-a-generation tax reform bill has finally passed Congress and is on its way to the President’s desk for his signature. For years, independent supermarket operators have tried to keep pace with a rapidly-changing marketplace while operating in an industry with high effective tax rates on just one to two percent profit margins. This new weight lifted off their shoulders will allow stores to invest more in their companies, employees, and communities.
“This landmark legislation reflects the hard work of many independent supermarket operators who helped shape the final bill. We’re pleased this historic bill lowers rates for both C-corporations and pass-through businesses, and retains the many important policies that will significantly help entrepreneurs hire additional staff, expand offerings, and upgrade their stores. We look forward to President Trump signing the bill into law so independent grocers can be given much-needed and long-awaited tax relief.”
- For a letter of support that was sent to the House and Senate, click HERE.
- For a congratulatory letter that was sent to the White House, click HERE.
- For NGA’s analysis of the conference report, click HERE.