IFA Statement on Passage of H.R. 4457, the America™s Small Business Tax Relief Act of 2014

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FOR IMMEDIATE RELEASE


Contact:

Matthew Haller, 202-662-0770

Jenna Weisbord, 202-662-0766

mhaller@franchise.org

jweisbord@franchise.org


IFA STATEMENT ON PASSAGE OF H.R. 4457, THE AMERICA’S SMALL BUSINESS TAX ACT OF 2014


WASHINGTON, June 12, 2014 —International Franchise Association President & CEO Steve Caldeira, CFE, released the following statement today regarding the passage of H.R. 4457, the America’s Small Business Tax Relief Act of 2014 , which would restore small business expensing provisions and provide incentives for small business owners to reinvest in their businesses:


“The small business expensing legislation passed by the House today is a small, but significant step towards reducing uncertainty in the tax code for franchise small business owners. Permanent extension of these crucial cost recovery provisions will encourage business owners to make the investments in their businesses that fuel expansion and growth. The unending cycle of renewing temporary tax provisions drives up compliance costs, while depriving businesses of the established tax policies they need to develop business plans that will drive the American economic recovery. We hope to see additional progress in reducing the tax code’s complexities and inefficiencies through comprehensive tax reform.”


The legislation passed the House by a vote of 272-144, and would allow small businesses to immediately deduct up to $500,000 in purchases. The deduction limit for 2014 reverted to $25,000 after the expiration of a temporary expensing provision.


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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.


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