News Room

FMI Applauds President Obama for Signing Law to Extend Tax Cuts to Bring Relief to Consumers and Businesses

December 17, 2010
ARLINGTON, VA — December 17, 2010 — The Food Marketing Institute (FMI) hailed the passage of an $858 billion tax cut bill, signed by President Obama today. The bill includes tax cuts for all income brackets for two years, extends unemployment benefits for 13 months and reduces the threshold for the estate tax rate. FMI President and Chief Executive Officer Leslie G. Sarasin released this statement:

“This bill plays a critical role in getting the economy moving again. It will give consumers more money to pay for basic necessities like food, which in turn is good for businesses and results in additional workers hired by businesses.   

It is also necessary to ease the burden of the estate tax on family-owned companies and allow for enhanced depreciation of investments to help businesses get back on the road to recovery.

We commend President Obama for signing this important legislation to provide tax relief for American consumers and businesses.”

Food Marketing Institute (FMI) conducts programs in public affairs, food safety, research, education and industry relations on behalf of its nearly 1,250 food retail and wholesale member companies in the United States and around the world. FMI’s U.S. members operate more than 25,000 retail food stores and almost 22,000 pharmacies with a combined annual sales volume of nearly $650 billion.  FMI’s retail membership is composed of large multi-store chains, regional firms and independent operators. Its international membership includes 126 companies from more than 65 countries. FMI’s nearly 330 associate members include the supplier partners of its retail and wholesale members. 

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