U.S. Jewelers to Lawmakers: Address Our Needs

(IDEX Online News) - Jewelers of America (JA), the U.S. trade association for businesses serving the fine jewelry retail marketplace, appealed to members of Congress to seriously consider issues that impact jewelry businesses. Among those issues are taxes and accounting methods.

In a letter sent by JA President and CEO Matthew A. Runci to all 535 lawmakers on Capitol Hill, he highlighted several key issues, including an extension of the Bush tax cuts and a repeal of the Estate Tax.

He also told legislators to allow businesses to continue using the LIFO (Last In, First Out) accounting method, which would hurt many jewelry businesses if it were repealed.

Runci closed the letter by noting the huge toll the recession has taken on the U.S. economy and the importance of small businesses in achieving a full recovery.