JA: Growing Influence of Jewelry Industry in DC Critical

Photo: house.gov

(IDEX Online News) – The industry’s voice is growing on Capitol Hill, due in large part to its efforts to put jewelers' issues "front-and-center" with Congress, says Jewelers of America (JA), the U.S. trade association for businesses serving the fine jewelry retail marketplace.

"The growing influence of the jewelry industry in D.C. is critical, as Congress and the president are faced with serious challenges that could affect jewelry businesses and the overall economy in the days and months ahead," says JA president & CEO Matthew A. Runci.

Following last week's election, JA’s legislative counsel, based in Washington, D.C., Haake & Associates, has prepared an overview for JA members to alert them to upcoming issues that could impact their businesses.

These include the fate of the Bush-era tax cuts, including the Estate Tax and Sales Tax Fairness.

According to the organization, momentum on Sales Tax Fairness has never been stronger, with bills in the Senate and House that have strong bipartisan support. Congressional supporters of the legislation are expected to push for passage during the lame-duck session, which begins today.  

"Jewelers of America will continue to advocate for jewelry businesses, but jewelers also have to speak up," says JA associate director of Public Affairs Susan Thea Posnock.

This election cycle, the association's Jewelers of America Political Action Committee, (JAPAC) contributed to the campaigns of 18 legislators, in both chambers of Congress and on both sides of the aisle, who won on November 6.

The association is encouraging all jewelry professionals to take advantage of its online Legislative Action Center, where they can contact their representatives on Sales Tax Fairness, protection of the Last-In, First-Out, (LIFO) accounting method, the Estate Tax and other legislative issues that could impact their businesses.