Taxes & health care top jewelry trade's political concerns (excerpt)

By Martin Berman-Gorvine
New York Diamonds, March 2009
As the Obama administration gets under way, a diamond and jewelry trade battered by falling consumer demand in the worst recession in decades is watching closely to see what difference the political sea change will make to manufacturers, wholesalers and retailers. The changes in the political landscape have also swept over the U.S. Congress, which now has a comfortable Democratic majority in both chambers--with a nearly filibuster-proof one in the Senate. While the national political conversation has not touched on diamond or jewelry issues, broader business concerns such as health care and taxes are very much on the agenda.
The president’s economic stimulus package, which the House of Representatives approved on a party-line vote in late January, “contains many incentives for business having to do with depreciation,” Tim Haake of the law firm Haake & Associates, the Jewelers of America (JA) lobbying arm in Washington, D.C., told New York Diamonds. “That’s good for the industry because many jewelry companies are small businesses.”
Original article copyright © 2009, JCK International Publishing Group
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Copyright © 2009, Martin Berman-Gorvine