FOR IMMEDIATE RELEASE
Contact:
Matthew Haller, 202-662-0770
Jenna Weisbord, 202-662-0766
mhaller@franchise.org
jweisbord@franchise.org
IFA STATEMENT ON EXTENSION OF FOOD INVENTORY DONATION TAX DEDUCTION
WASHINGTON, July 17, 2014 —IFA Executive Vice President of Government Relations & Public Policy Robert Cresanti, released the following statement on the passage of H.R. 4719, the America Gives More Act, which would renew and expand an expired charitable tax deduction for contributions of food inventory:
“Since its expansion in 2006 to include many small businesses, the tax deduction for charitable food contributions has encouraged franchised businesses to serve their local communities by donating excess food to benefit their less-fortunate neighbors. The expansion of the deduction to pass-through companies has further empower franchised restaurants and other food service-related companies to reduce landfill volume, and more importantly, increase food bank inventory, through charitable contributions. We applaud the members of the House for renewing and expanding this meaningful deduction to strengthen and facilitate the important mission of eradicating hunger in America.”
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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