HOW RETAILERS ARE RESPONDING TO TAX REFORM

HOW RETAILERS ARE RESPONDING TO TAX REFORM

HOW RETAILERS ARE RESPONDING TO TAX REFORM

A comprehensive tax reform was highly needed in the U.S if it had to develop its economy, increase the wages as well as advance U.S. competitiveness across the globe. It is for that reason; the retail industry was demanding the Congress to pass such a reform time and again. Luckily, for the retailers, the law of the land is a more competitive tax code. The retailers are considering ways to develop their businesses as well as ways to incorporate savings.
Moreover, the highest effective tax rate of any sector of the U.S. economy was previously paid by the retail industry. So the question arises is that how the retailers are responding to this fairer tax environment? 
Additionally, the new tax law took effect only a few weeks before and it seems that the presumptions are already executing. It is because of this tax reform, employers are investing in their workforce, and it is estimated that more than 3 million American workers are receiving bonuses, increased wages as well as expanded benefits. Retailers are leading the way.

We’ll see from tax reform as it ripples through the economy that this news only scratches the surface of the benefits. Due to the diverse nature, different retailers respond differently to this reform. The tax savings will be invested in innovation, technology and expanding online footprint by the retailers. Stronger retail companies, more jobs and higher wages will be the benefits gained through those investments.
Moreover, middle-class consumers are also going to see bigger paychecks as they will identify news to reinvest their businesses. The greatest benefit of this tax reform is that the U.S. economy will boost up, and more opportunities for the American workers will be created.                              

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