Missouri Retail Association Warns of "Fiscal Cliff" Impact

4 years 2 months 3 weeks ago November 26, 2012 Nov 26, 2012 Monday, November 26 2012 Monday, November 26, 2012 5:42:00 PM CST in News
By: Elizabeth Hagedorn
Embed Code Copied

MISSOURI - As the shopping weekend wraps up, the Missouri Retail Association cautions that uncertainty over the so-called fiscal cliff debate in Washington could lead to a dip in consumer confidence this holiday season.

According to the Missouri Retail Association, the state followed the national Black Friday weekend results, which saw an increase of about 13 percent in sales.

The organization's president, David Overfelt, says Congress needs to find a "long term solution."

"People need certainty. Retailers need certainty. Regardless of they're independent or large, if they're going to make capitol investments or hire new employees, they need to know where we're going to be tax-wise," said Overfelt. 

But this strong start to the holiday season may not last, says the group, should Congress reach a deal to keep the tax increases and spending cuts from kicking in which are set to occur automatically in January.

The White House projects in a report released Monday that falling off the so-called fiscal cliff could cut consumer spending by $200 billion and slow growth by 1.4 percent.

A news release from the National Retail Federation in response to the White House report notes the uncertainty consumers are expected to face should Congress fail to reach a deal.

"[J]ust kicking the can down the road by cherry picking reforms only serves to reinforce the well-placed fears of American consumers and retailers that the status quo will once again rule that day," said NRF president and CEO Matthew Shay.

More News

Grid
List
BOONE COUNTY — The Boone County Fire Protection District responded to 12 natural cover fires on Saturday. The Columbia... More >>
12 hours ago February 18, 2017 Feb 18, 2017 Saturday, February 18 2017 Saturday, February 18, 2017 8:28:00 PM CST in News
COLUMBIA - The Unitarian Universalist Church of Columbia (UUCC) and Missouri Faith Voices hosted a resistance training Saturday to educate... More >>
13 hours ago February 18, 2017 Feb 18, 2017 Saturday, February 18 2017 Saturday, February 18, 2017 6:35:00 PM CST in News
BOONE COUNTY — Two people were taken into custody after leading police on a car chase through multiple counties Saturday... More >>
15 hours ago February 18, 2017 Feb 18, 2017 Saturday, February 18 2017 Saturday, February 18, 2017 5:16:00 PM CST in News
KANSAS CITY (AP) — An online tool has disappeared for people to find out whether they are buying puppies from... More >>
15 hours ago February 18, 2017 Feb 18, 2017 Saturday, February 18 2017 Saturday, February 18, 2017 4:46:00 PM CST in News
KANSAS CITY (AP) — A government report shows the number of farms in Missouri fell last year while the remaining... More >>
15 hours ago February 18, 2017 Feb 18, 2017 Saturday, February 18 2017 Saturday, February 18, 2017 4:41:00 PM CST in News
COLUMBIA — The Acting Company based out of New York has crossed the country and is now in Columbia to... More >>
17 hours ago February 18, 2017 Feb 18, 2017 Saturday, February 18 2017 Saturday, February 18, 2017 3:03:00 PM CST in News
JEFFERSON CITY — The Special Olympics Missouri Regional Basketball Tournament returned to Jefferson City for the third year Saturday. ... More >>
17 hours ago February 18, 2017 Feb 18, 2017 Saturday, February 18 2017 Saturday, February 18, 2017 2:48:00 PM CST in News
JOPLIN (AP) — Supporters of Route 66 are pushing to have the roadway added to a national list of historic... More >>
19 hours ago February 18, 2017 Feb 18, 2017 Saturday, February 18 2017 Saturday, February 18, 2017 1:14:00 PM CST in News
CAMDEN COUNTY — A male suspect attempted to gain entrance to a residence on Hackberry Trace in Montreal Saturday, the... More >>
19 hours ago February 18, 2017 Feb 18, 2017 Saturday, February 18 2017 Saturday, February 18, 2017 1:05:00 PM CST in News
PINEVILLE (AP) — The Harry S. Truman Coordinating Council and the Northwest Arkansas Regional Planning Commission will be meeting to... More >>
19 hours ago February 18, 2017 Feb 18, 2017 Saturday, February 18 2017 Saturday, February 18, 2017 12:38:29 PM CST in News
COLUMBIA — The Homes for Computers Program distributed 40 computers to eligible low-income Columbia families on Saturday. One mother... More >>
19 hours ago February 18, 2017 Feb 18, 2017 Saturday, February 18 2017 Saturday, February 18, 2017 12:33:00 PM CST in News
JEFFERSON CITY (AP) — Applications for concealed carry permits in Missouri have been dropping after passage last year of a... More >>
21 hours ago February 18, 2017 Feb 18, 2017 Saturday, February 18 2017 Saturday, February 18, 2017 11:21:00 AM CST in News
MOBERLY — Three law enforcement agencies partnered to serve a narcotics search warrant on Friday, resulting in the arrest of... More >>
1 day ago February 17, 2017 Feb 17, 2017 Friday, February 17 2017 Friday, February 17, 2017 10:32:00 PM CST in News
COLUMBIA — In the 2017 State of Entrepreneurship Address , the Kauffman Foundation announced a national increase in minority small... More >>
1 day ago February 17, 2017 Feb 17, 2017 Friday, February 17 2017 Friday, February 17, 2017 7:12:00 PM CST in News
CLAYTON (AP) — A St. Louis-area man was sentenced to eight years in prison in a wrong-way crash that killed... More >>
1 day ago February 17, 2017 Feb 17, 2017 Friday, February 17 2017 Friday, February 17, 2017 5:28:38 PM CST in News
ST. LOUIS (AP) — Two of eight Chicago residents have pleaded guilty for their roles in a smash-and-grab theft of... More >>
1 day ago February 17, 2017 Feb 17, 2017 Friday, February 17 2017 Friday, February 17, 2017 4:44:41 PM CST in News
COLUMBIA — A professor at Stephens College and the Tri Beta Biological Honors Society are hosting a series of events... More >>
1 day ago February 17, 2017 Feb 17, 2017 Friday, February 17 2017 Friday, February 17, 2017 4:41:00 PM CST in News
MOBERLY — A Moberly man is charged with child molestation and statutory sodomy. Moberly police arrested Joseph Fowler on... More >>
1 day ago February 17, 2017 Feb 17, 2017 Friday, February 17 2017 Friday, February 17, 2017 4:08:00 PM CST in News
Columbia, MO
Broken Clouds 47°
9am 51°
10am 57°
11am 64°
12pm 68°

Select a station to view its upcoming schedule:

Coming Up Next

8:00a
Sunday TODAY with Willie Geist
9:00a
Meet the Press
10:00a
Give
8:30a
The Key of David
9:00a
Campmeeting
10:00a
Discover the Truth

Tonight's Schedule

7:00p
The Paley Center Salutes NBC's 90th Anniversary
6:00p
Killing Emmett Young
8:00p
Marvel's Agents of S.H.I.E.L.D.
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld