“This legislation is simple, targeted economic stimulus that will quickly put money into consumers’ pockets where it can boost economic growth by creating demand throughout all sectors of the economy,” NRF Senior Vice President for Government Relations Steve Pfister said in a letter to members of the House. “Given the financial stress that consumers will be under in the coming year, stimulus legislation is essential to the health of our nation’s economy and to the jobs that rely upon the strength of that economy.”

The House is scheduled to vote today on H.R. 5140, the Recovery Rebates and Economic Stimulus for the American People Act of 2008, sponsored by Speaker Nancy Pelosi, D-Calif., and Minority Leader John Boehner, R-Ohio. The measure would implement the agreement reached last week between Pelosi, Boehner and Treasury Secretary Henry Paulson calling for a system of tax rebate checks of up to $600 per individual and $1,200 per married couple, plus $300 per child for families with children. The rebates are subject to income limits, and the legislation also includes tax relief for businesses that make investments intended to create jobs.

Pfister said today’s consideration of the bill would be counted as a key vote in NRF’s annual ranking of lawmakers on issues important to the retail industry.

In addition to the letter, Pfister cautioned lawmakers in both the House and Senate against attempts to add new provisions that could delay enactment of the legislation.

“As the President said in his State of the Union address last night, Congress should resist the temptation to ‘load up’ this legislation with extraneous measures, and instead should act expeditiously to provide the American people and small businesses with the assistance they need,” Pfister said.

The NRF Board of Directors earlier this month passed a resolution urging Bush and congressional leaders to adopt economic stimulus legislation after the nation’s slowing economy resulted in the smallest holiday sales growth in five years. NRF is forecasting 3.5 percent growth for 2008, but the forecast is contingent on Congress and the Federal Reserve taking action to boost the economy.

The National Retail Federation is the world's largest retail trade association, with membership that comprises all retail formats and channels of distribution including department, specialty, discount, catalog, Internet, independent stores, chain restaurants, drug stores and grocery stores as well as the industry's key trading partners of retail goods and services. NRF represents an industry with more than 1.6 million U.S. retail establishments, more than 24 million employees - about one in five American workers - and 2006 sales of $4.7 trillion. As the industry umbrella group, NRF also represents more than 100 state, national and international retail associations. www.nrf.com