With most goodies in Santa’s bag now made in Asia and other global manufacturing hubs, RILA is also keeping a close eye on the White House and Congress when it comes to trade policy this holiday season. Retailers are also pressing Members to extend a research and development tax credit and other revenue measures that could make or break a company’s decision to open up new brick-and-mortar locations.
“Certainty in the tax code is critical to our long-term investments,” Dodge said. “Our guys build stores with an eye towards 15 to 20 years down the road, so having a predictability in the tax code is critical to their ability to do that.”
Ahead of Friday’s hordes, Dodge acknowledged that the retail market “is still difficult.” In late October, the Conference Board Consumer Confidence Index was up to 50 percent from 48.6 percent the month before, results that the survey’s pollster described as “mixed” and “still hovering at historically low levels.”
Still, heading into Friday’s start of the holiday shopping season, Dodge said there are plenty of reasons to be optimistic.
Vice President Joe Biden waits to conduct a mock swearing-in ceremony with Sen. Brian Schatz, D-Hawaii, in the Capitol's Old Senate Chamber, December 2, 2014. Schatz was sworn in to serve the remainder of his term since he was appointed to the seat after Sen. Daniel Inouye, D-Hawaii, passed away.