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Walmart Statement on Fiscal Cliff Meeting with President Obama

BENTONVILLE, Ark., Nov. 14, 2012 /PRNewswire/ -- "Before the end of the year, Washington needs to find an agreement to avoid the fiscal cliff. We are pleased that the President and the Congressional leadership are coming together to solve this critical issue.

"In many ways, Walmart's customers are at the center of this debate. They are middle class Americans and those aspiring to join the middle class. Our customers are working hard to adapt to the 'new normal,' but their confidence is still very fragile. They are shopping for Christmas now and they don't need uncertainty over a tax increase.

"The need for certainty is also true for business. Many of us are headed into our new fiscal years and are making decisions on investments that will drive growth.

"Walmart Moms tell us their confidence in the economy is shaped by whether they believe Washington is working for them. If the White House and Congress can reach agreement, it will show them the nation's leaders can address big issues, and it will help raise their confidence in their government and their future.

"We encourage the White House and Congress to work together on an approach that includes additional revenue, comprehensive tax reform, and spending cuts, including entitlement reforms, to get our fiscal house in order while creating economic growth."

- Mike Duke, president and CEO, Wal-Mart Stores Inc.

SOURCE Wal-Mart Stores, Inc.

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