Matthew Haller, 202-662-0770
Jenna Weisbord, 202-662-0766
WASHINGTON, March 12—IFA Senior Vice President of Government Relations & Public Policy Judith Thorman released the below statement following today’s release of a “Small Business Tax Reform Discussion Draft,” by House Ways & Means Committee Chairman Dave Camp (R-Mich.).
“Chairman Camp’s draft proposal is a positive step toward achieving IFA’s goal of revenue-neutral, comprehensive tax reform. We believe it would simplify the tax code and foster robust economic growth for the country as a whole. In particular, the Camp draft would benefit the majority of America’s 825,000 Main Street franchise small business owners by simplifying pass-through rules for S-Corps, LLCs and partnerships. By doing so, the Camp proposal would reduce compliance costs and provide greater certainty to the more than 8 million employees across the country who wake up every day and go to work in the franchise industry and those Americans who aspire to become franchise business owners.
“We appreciate the chairman and his staff for their hard work on the initial draft proposal. IFA will continue to work with Chairman Camp and the committee on this important matter as well provide input to the small business working group, led by Reps. Vern Buchanan (R-Fla.) and Allison Schwartz (D-Pa.). Following the completion of a study analyzing the impact of proposed changes to the tax code for franchisees and franchisors currently being conducted by IFA, we will provide additional input for the committee’s consideration regarding the positive or negative impact the various reforms would have on those in the franchising industry.”
About the International Franchise Association
The International Franchise Association is the world's oldest and largest organization representing franchising worldwide. Celebrating over 50 years of excellence, education and advocacy, IFA works through its government relations and public policy, media relations and educational programs to protect, enhance and promote franchising. Through its media awareness campaign highlighting the theme, Franchising: Building Local Businesses, One Opportunity at a Time, IFA promotes the economic impact of the more than 825,000 franchise establishments, which support nearly 18 million jobs and $2.1 trillion of economic output for the U.S. economy. IFA members include franchise companies in over 300 different business format categories, individual franchisees and companies that support the industry in marketing, law and business development.