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A federal, short-term backstop to support trade credit insurance for use primarily by small businesses that rely on insurance to facilitate cash flow and limited legal liability protection to safeguard businesses from unfair lawsuits are part of the recommendations sent by associations representing the US fashion industry to Congressional leaders.
As the US Congress debates additional stimulus measures in response to the COVID-19 pandemic, the associations sent a letter recently to Congressional leaders to highlight the industry’s needs. Signed by the chief executive officers (CEOs) of the American Apparel & Footwear Association (AAFA), Accessories Council, Council of Fashion Designers of America and the Travel Goods Association, the letter recommends measures that would support US businesses and American workers.
The group’s recommendations also include return to workplace incentives; healthy workplaces tax credit to support those businesses that have retrofitted facilities and purchased personal protective equipment to protect employees and customers; and duty drawback for charitable donations to fix a problem in current law that disincentivises donations of imported excess inventory.
“The fashion industry has played its part throughout the COVID-19 pandemic by repurposing supply chains to quickly fill our need for personal protective equipment, adjusting operations in line with health guidance, and creating safe spaces to shop for essential apparel and footwear needs across many seasons of this pandemic,” said AAFA president and CEO Steve Lamar in a press release.
Fibre2Fashion News Desk (DS)
A federal, short-term backstop to support trade credit insurance for use primarily by small businesses that rely on insurance to facilitate cash flow and limited legal liability protection to safeguard businesses from unfair lawsuits are part of the recommendations sent by associations representing the US fashion industry to Congressional leaders.