Washington, DC — Oct. 12, 2001 — “The supermarket industry strongly supports President Bush’s economic recovery plan. Fast, decisive action is needed immediately to stimulate business growth and consumer spending,” said Food Marketing Institute (FMI) president and CEO today as the House Ways and Means Committee is marking up a plan.

“President Bush’s plan provides an economic boost to virtually every family and business in America. Accelerating the tax cuts and depreciation will preserve and create precious jobs. It will provide much-needed relief for millions of family-owned businesses, including food retailers across America.

“We must recognize two important realities in today’s much-changed world. First and foremost, our nation’s survival and prosperity depend on the power of unity. We need a united Congress working with the president to give our economy a broad-based stimulus.

“The second reality is the need to act swiftly. If we are to restore consumer confidence in our economy, we must provide leadership that shows the government is moving quickly using every resource available. Approving President Bush’s economic stimulus plan now would send a strong, positive message to consumers.”

FMI is a leading member of the Tax Relief Coalition, which has endorsed the Bush plan. The association is among the 10 leaders on the Steering Committee of the 1,000-member coalition.