Missouri Retail Association Warns of "Fiscal Cliff" Impact

3 years 8 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

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
CLAYTON, Mo. (AP) — An organization that advocates for walkers and bicyclists in the St. Louis region is pushing for... More >>
40 minutes ago August 24, 2016 Aug 24, 2016 Wednesday, August 24 2016 Wednesday, August 24, 2016 12:13:02 PM CDT in News
KANSAS CITY (AP) — A federal judge presiding over the wrongful-death lawsuit brought by Michael Brown's parents declined to expand... More >>
1 hour ago August 24, 2016 Aug 24, 2016 Wednesday, August 24 2016 Wednesday, August 24, 2016 11:31:25 AM CDT in News
SPRINGFIELD, Mo. (AP) — Authorities say a man has died and a woman has been hurt in a Springfield house... More >>
1 hour ago August 24, 2016 Aug 24, 2016 Wednesday, August 24 2016 Wednesday, August 24, 2016 11:08:14 AM CDT in News
SPRINGFIELD, Mo. (AP) — A prosecutor alleges that a former Springfield coach who's pleaded guilty to sexually assaulting a teenager... More >>
4 hours ago August 24, 2016 Aug 24, 2016 Wednesday, August 24 2016 Wednesday, August 24, 2016 8:12:00 AM CDT in News
ST. LOUIS (AP) — For the second time in a month, a St. Louis police major passed over for promotion... More >>
5 hours ago August 24, 2016 Aug 24, 2016 Wednesday, August 24 2016 Wednesday, August 24, 2016 7:30:00 AM CDT in News
JEFFERSON CITY, Mo. (AP) — A judge has ruled that a ballot measure to raise cigarette taxes to benefit early... More >>
5 hours ago August 24, 2016 Aug 24, 2016 Wednesday, August 24 2016 Wednesday, August 24, 2016 7:00:00 AM CDT in News
COLUMBIA - Area businesses will most likely be impacted by the recent drop in MU enrollment. The university has... More >>
16 hours ago August 23, 2016 Aug 23, 2016 Tuesday, August 23 2016 Tuesday, August 23, 2016 8:15:00 PM CDT in Continuous News
COLUMBIA - Major building code changes will go into effect in Columbia starting October 1, 2016. The city is currently... More >>
17 hours ago August 23, 2016 Aug 23, 2016 Tuesday, August 23 2016 Tuesday, August 23, 2016 7:41:00 PM CDT in News
COLUMBIA - Columbia's Downtown Leadership Council began debate Tuesday afternoon on how to solve a slew of problems with parking... More >>
17 hours ago August 23, 2016 Aug 23, 2016 Tuesday, August 23 2016 Tuesday, August 23, 2016 7:12:00 PM CDT in News
COLUMBIA - The construction of a new Boone County Fire Protection District station starts this week. The new Station... More >>
18 hours ago August 23, 2016 Aug 23, 2016 Tuesday, August 23 2016 Tuesday, August 23, 2016 6:42:00 PM CDT in News
COLUMBIA - A ruling Tuesday from the National Labor Relations Board, which states graduate workers at private universities are considered... More >>
19 hours ago August 23, 2016 Aug 23, 2016 Tuesday, August 23 2016 Tuesday, August 23, 2016 5:42:00 PM CDT in News
COLUMBIA - One man was seriously injured Tuesday in a crash at the intersection of Bethel Church Road and Route... More >>
19 hours ago August 23, 2016 Aug 23, 2016 Tuesday, August 23 2016 Tuesday, August 23, 2016 5:28:00 PM CDT in News
COLUMBIA - The Better Business Bureau is warning people to take extra precautions when donating to flooding victims and to... More >>
20 hours ago August 23, 2016 Aug 23, 2016 Tuesday, August 23 2016 Tuesday, August 23, 2016 4:51:00 PM CDT in News
JEFFERSON CITY, Mo. (AP) — Science fiction author Robert Heinlein has been inducted into the Hall of Famous Missourians. ... More >>
20 hours ago August 23, 2016 Aug 23, 2016 Tuesday, August 23 2016 Tuesday, August 23, 2016 4:20:13 PM CDT in News
O'FALLON, Mo. (AP) — A key figure in a previous murder case is now charged with killing a man she... More >>
20 hours ago August 23, 2016 Aug 23, 2016 Tuesday, August 23 2016 Tuesday, August 23, 2016 4:11:45 PM CDT in News
COLUMBIA - Columbia Public Schools is now offering evening dinner for high school students staying after school for clubs, athletics... More >>
21 hours ago August 23, 2016 Aug 23, 2016 Tuesday, August 23 2016 Tuesday, August 23, 2016 3:51:00 PM CDT in News
JEFFERSON CITY, Mo. (AP) — Missouri voters will have some additional choices on the Nov. 8 ballot. The Green... More >>
21 hours ago August 23, 2016 Aug 23, 2016 Tuesday, August 23 2016 Tuesday, August 23, 2016 3:27:26 PM CDT in News
COLUMBIA - The City of Columbia's website launched a database of businesses owned by minorities and women Tuesday. The... More >>
21 hours ago August 23, 2016 Aug 23, 2016 Tuesday, August 23 2016 Tuesday, August 23, 2016 3:06:00 PM CDT in News
Columbia, MO
Broken Clouds 82°
1pm 86°
2pm 87°
3pm 87°
4pm 88°

Select a station to view its upcoming schedule:

Coming Up Next

12:30p
Access Hollywood
1:00p
Days of Our Lives
2:00p
The Meredith Vieira Show
12:00p
Jerry Springer
1:00p
Maury
2:00p
Rules of Engagement

Tonight's Schedule

7:00p
America's Got Talent
8:00p
America's Got Talent
9:00p
The Night Shift
7:00p
Penn & Teller: Fool Us
8:00p
Whose Line Is It Anyway?
8:30p
Whose Line Is It Anyway?
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld