FOR IMMEDIATE RELEASE


Contact:

Matthew Haller, 202-662-0770

Jenna Weisbord, 202-662-0766

mhaller@franchise.org

jweisbord@franchise.org


IFA SUPPORTS SENATE PASSAGE OF TERRORISM RISK INSURANCE ACT


WASHINGTON, Jan. 8, 2015—International Franchise Association Executive Vice President of Government Relations & Public Policy Robert Cresanti issued the following statement regarding the Senate passage of H.R. 26, the Terrorism Risk Insurance Program Reauthorization Act (TRIA) of 2015:


“By extending the Terrorism Risk Insurance Program for an additional five years, Congress has provided needed certainty to entrepreneurs across America to promote affordable and accessible terrorism risk insurance for businesses and infrastructure.  This legislation will give confidence to investors, builders, and markets and help new projects and businesses spring to life and drive our economic recovery. 


“Additionally, many franchise businesses with operations abroad will benefit from provisions allowing fair regulatory treatment for the way in which they hold currency used to hedge foreign transactions as well as language clarifying end user derivative exemptions that were never intended by the authors of previous financial reform legislation.


“IFA applauds and thanks the House Financial Services Committee, the Senate Banking Committee and the leadership of both chambers for this important, early, bipartisan achievement for the 114th Congress.  We encourage President Obama to promptly sign this legislation.”


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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 55 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 770,000 franchise establishments, which support nearly 18 million direct and indirect 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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