FOR IMMEDIATE RELEASE
Contact:
Matthew Haller, 202-662-0770
Jaenna Weisbord, 202-662-0766
mhaller@franchise.org
jweisbord@franchise.org
IFA STATEMENT ON PROPOSED “BUFFETT RULE”
WASHINGTON, June 10, 2014 – International Franchise Association President & CEO Steve Caldeira, CFE, released the following statement today to address a U.S. Senate proposal to implement new spending programs paid for by tax increases on small business owners:
“For the 80 percent of franchise small business owners filing their business income on their individual tax returns, proposals to implement the “Buffett rule” would do nothing but limit hiring and growth, and prevent small business owners from reinvesting in their businesses through increased hiring and purchasing. Instead of hindering small businesses with increased taxes in a sluggish economy, responsible public policy should empower those small businesses that create two-thirds of net new jobs in America and have the potential to power our recovery.
“To do that, these entrepreneurs need comprehensive tax reform that addresses both corporate and individual rates. In addition to hurting small business growth and hiring, the Buffett rule is also shortsighted and misguided policy that fails to grasp the urgency of the need to reform our nation’s outdated and inefficient tax code.”
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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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Phone: +1 202/628-8000 Fax: +1 202/628-0812 www.franchise.org