FOR IMMEDIATE RELEASE
Contact:
Matthew Haller, 202-662-0770
Jenna Weisbord, 202-662-0766
mhaller@franchise.org
jweisbord@franchise.org
IFA CALLS ON SENATE TO RENEW KEY TAX EXTENDERS
WASHINGTON, Dec. 10, 2014 —International Franchise Association President & CEO Steve Caldeira, CFE, released the following statement calling for the U.S. Senate to renew key tax extenders that would provide much needed relief and certainty to the owners of the 770,000 franchise locations in the United States.
“The U.S. Senate needs to follow the lead of the House of Representatives and approve the Tax Increase Prevention Act of 2014before taxes unnecessarily spike for franchise small businesses across the country. Small business owners are already preparing their tax returns as filing season looms. Without the certainty provided by this legislation, these entrepreneurs face an increased tax burden at a time when they can least afford it.
“Of particular importance to franchised small businesses is the continuation of the 15-year accelerated depreciation for leasehold Improvements, bonus depreciation, and the Work Opportunity Tax Credit. These tax benefits help small businesses grow and create jobs.
“Make no mistake, failure to pass this package would be, in effect, a tax increase on thousands of small, locally owned franchise businesses and this increase could put the jobs of many hardworking Americans at risk. IFA will continue to work to educate Congress on the importance of voting in favor of these and other tax ‘extenders’ currently being considered.”
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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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