January 2009

ISPA Leads Coalition to Stimulate Mattress Sales

ISPA has formed a coalition of trade associations representing manufacturers, suppliers and retailers in the home furnishings industries to include as part of President Obama's Economic Stimulus package new tax incentives that would boost sales of mattress and other products.  "Our effort is designed to implement consumer and commercial tax incentives for the mass scale purchase of home furnishings, thereby stimulating the flow of capital, assisting the housing market, and directly promoting American manufacturing, distribution and retail jobs," noted ISPA President Dick Doyle. 

In addition to ISPA, the American Home Furnishings Industries Coalition is made up of a dozen associations, including the American Home Furnishings Alliance, the National Paint and Coatings Association, the Carpet and Rug Institute, the Kitchen Cabinet Association and the National Home Furnishings Association, among others.   The centerpiece of the coalition's proposal provides a refundable consumer tax credit for the purchase of home furnishings, thus directly stimulating sales and supporting job creation.  The coalition has retained the services of Winston & Strawn LLP, a highly regarded law firm, to assist us in advancing this concept.  Meetings over the past two weeks with key Obama Transition Team and Congressional leaders have yielded an initial positive reaction to the proposal.  "These timely incentives will help safeguard quality manufacturing jobs by addressing the industries hardest hit by this unparalleled economic downturn – manufacturing, housing, and retail," Doyle explained