The 117th Congress of the United States has completed their business, and their two-year term has ended. Some members have vacated the building, and any tag-along legislation (destined for the lame duck session) has been eviscerated. In truth, the 117th Congress must be lauded for their significant and bipartisan achievements but, sadly, they didn’t provide any real retail assistance to help adjust and correct on-going sourcing and supply chain issues. What started a few years back as a Trumpian assault on retail – has now accelerated completely through the first two years of Team Biden. This situation has resulted in consumer inflation, additional retail bankruptcies, supply chain problems, and a Holiday retail season that will be long on sales and short on profit.
As America enters 2023 (and the first three months of the new 118th Congress), little will likely be accomplished. This biannual adjustment happens because bills from the last session have automatically expired, and they need to be re-introduced. All of this is a time consuming process, and retail trade issues will linger until at least April or May of 2023 – before the Republican House majority can reign them in (if they choose to do so).
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