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.
From left, Lisa Peng, daughter of Peng Ming, Grace Ge Geng, daughter of Gao Zhisheng, and Ti-Anna Wang, daughter of Wang Bingzhang, hold pictures of their imprisoned fathers during a House Subcommittee on Africa, Global Health, Global Human Rights, and International Organizations hearing in the Rayburn House Office Building titled “Their Daughters Appeal to Beijing: ‘Let Our Fathers Go!’”
Each year since 1990, CQ Roll Call has reviewed the financial disclosures of all 541 senators, representatives and delegates to determine the 50 richest members of Congress. This year's report, derived from forms covering the calendar year 2012, shows it took a net worth of $6.67 million to crack the exclusive club.