Representative Roger Williams Resolves to Protect American Business
July 30, 2015
The LIFO Coalition, a group of more than 120 organizations including trade associations representing manufacturing, wholesale distribution, and retail industries, as well as companies of every size and industry sector that employ the “last in, first out” (LIFO) accounting method, today commented on Representative Roger Williams’ (R-TX) resolution, H.CON.RES.69, to protect the use of LIFO for American businesses.
The LIFO Coalition members stand together in applauding Representative Williams’ resolution to protect LIFO, an established and accepted accounting method that has been in the tax code since the 1930s.
“Businesses across the country rely on LIFO to accurately and efficiently manage their inventories,” said Jade West, executive secretariat of The LIFO Coalition. “It is reassuring that Representative Williams has taken a stand to recognize the value of this widely accepted accounting method and has offered a resolution that makes it clear that any attempt to repeal the use of LIFO would cause significant and unnecessary damage to the economy and the American people that support it.”