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NGA Urges Congressional Leadership To Fix The Retail Glitch This Year

NGA, Kirtland, Jones and Raya, congressional, retail glitch

On Dec. 12, the National Grocers Association (NGA), the trade association representing the independent supermarket industry, sent a letter urging congressional leadership to include the “Restoring Investment in Improvements Act” in any end-of-year spending package. The bill resolves the “retail glitch,” a drafting error in the Tax Cuts and Jobs Act (TCJA) that causes interior remodels to independent grocery stores to depreciate over 39.5 years instead of the previous policy of 15 years. The error also prevents grocers from receiving Congress’ intended benefit of 100 percent bonus depreciation for qualified improvement property (QIP).

“The retail glitch creates uncertainty for family-owned and privately held retailers and wholesalers throughout the U.S., preventing the completion of vital upgrades and investments in their stores,” said Greg Ferrara, NGA president and CEO. “Independent grocers provide communities of all types with access to affordable and nutritious food options and are instrumental in fighting food insecurity and eradicating food deserts. Leadership must act to ensure independent grocers can invest in their businesses, employees, and communities for years to come.”

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