A new report from the White House says that members of the GOP in Congress will play the part of the Grinch for the Nation’s retailers this Christmas unless the lawmakers get on board with President Barack Obama’s fiscal plan.
A White House report released yesterday reads:
The National Retail Federation is forecasting that holiday sales will grow 4.1 percent this year … [but] if Congress does not act on the President’s plan to extend tax cuts for the middle-class, it will be risking one of the key contributors to growth and jobs in our economy at the most important time of the year for retail stores.
The holiday season is no time to threaten middle-class pocketbooks.
The report, titled “The Middle-Class Tax Cuts’ Impact On Consumer Spending & Retailers,” is aimed at increasing pressure on Congressional Republicans to back off of promises not to raise taxes on Americans in higher income brackets.
Meanwhile, The Washington Post reported Monday that four noteworthy Republican lawmakers had broken with anti-tax crusader Grover Norquist in recent days. Senators Lindsey Graham (S.C.), Bob Corker (Tenn.), Saxby Chambliss (Ga.) and Representative Peter King (N.Y.) all said they will not be bound by Norquist’s Taxpayer Protection Pledge as Congress moves toward the looming fiscal cliff battle.