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Will this holiday season see a continuation of the culling of US retailers? Maybe not....
Along with the homebuyer credit, the package contains another $10 billion tax break that allows companies that suffered during the last two years to use recent losses to reclaim taxes paid in the previous five years, when times were good.Big businesses that were cut out of that tax break when it was included in the stimulus measure early this year lobbied Congress to let them take advantage of it this time. They included retailers and manufacturers, among others, who said the measure would propel employment.
"If retailers can't find a way to finance inventories for the 2009 holiday season, many could be forced to close stores, lay off workers or even go out of business," said Rachelle Bernstein of the National Retail Federation.
"This will help keep that from happening."
http://www.google.com/hostednews/ap/...NBS7QD9BQ5A280
Along with the homebuyer credit, the package contains another $10 billion tax break that allows companies that suffered during the last two years to use recent losses to reclaim taxes paid in the previous five years, when times were good.Big businesses that were cut out of that tax break when it was included in the stimulus measure early this year lobbied Congress to let them take advantage of it this time. They included retailers and manufacturers, among others, who said the measure would propel employment.
"If retailers can't find a way to finance inventories for the 2009 holiday season, many could be forced to close stores, lay off workers or even go out of business," said Rachelle Bernstein of the National Retail Federation.
"This will help keep that from happening."
http://www.google.com/hostednews/ap/...NBS7QD9BQ5A280
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