By  on February 21, 2013

A majority of Americans say their spending and savings plans have been hurt by recent increases in federal taxes, and many expect to compensate by cutting back on their apparel purchasing.

In a survey conducted for the National Retail Federation by BIGinsight, one in six respondents — 16.7 percent — said their plans for spending, saving and budgeting had been “greatly impacted” by the new taxes resulting from the “fiscal cliff” drama at the end of 2012. On top of that, 41.5 percent said their plans were somewhat affected while a slightly larger number, 41.8 percent, said the new tax guidelines would have little or no effect on how they allot their disposable income.

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