AAFA supports Emergency Economic Stabilization Act - footwearbiz: Lead

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AAFA supports Emergency Economic Stabilization Act

02/10/2008
The American Apparel & Footwear Association (AAFA) has called on Congress to approve the Emergency Economic Stabilization Act, commonly referred to as “the bailout”, in a letter sent to all members of Congress. Together with a broad coalition of business groups, AAFA also sent a joint letter urging passage of the legislation this week.

“Today’s financial crisis isn’t limited to niche markets of Wall Street,” said Kevin Burke, president and CEO, AAFA. “The credit crunch is affecting everyone from apparel and footwear businesses that rely on lines of credit in daily operation to families trying to buy their first home.”

He continued: “Hundreds of thousands of families depend on the footwear and apparel industries for their family pay check, and depend on credit for important purchases like a new family car,” continued Burke. “Americans are already feeling the squeeze and Congress should no longer delay sending them help. The Emergency Economic Stabilization Act should be passed now.”

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