Critical step toward providing certainty for franchise small businesses, including extending the Section 199A deduction, restoring bonus depreciation and interest deductibility
WASHINGTON D.C. – Today, Michael Layman, Chief Advocacy Officer for the International Franchise Association (IFA), released the following statement applauding passage of the Fiscal Year 2025 budget resolution by the U.S. House of Representatives:
“By setting the table for Congress to advance legislation to pass IFA-supported priorities like extending the Section 199A deduction, restoring bonus depreciation and extending interest deductibility, last night’s vote is a major victory for franchise small business owners everywhere, and we applaud House leadership for getting the job done. While important work remains, we are hopeful the Senate will follow suit and get these priorities over the finish line. With tax certainty and a more favorable regulatory climate, the year ahead is poised to be one of growth and opportunity for America’s 830,000 franchised small businesses and their 9 million employees, who will contribute greatly toward our country’s next golden age.”
In January, IFA released its 2025 Roadmap For Small Business Growth, and has led a coalition letter urging Congress to advance these priorities. IFA also recently released its Franchising Economic Outlook showing with these priorities, the growth of franchising is expected to once again outpace the broader economy.
About the International Franchise Association
Celebrating over 60 years of excellence, education, and advocacy, the International Franchise Association (IFA) is the world’s oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations, and educational programs to protect, enhance and promote franchising and the approximately 830,876 franchise establishments that support nearly 8.8 million direct jobs, $896.9 billion of economic output for the U.S. economy, and almost 3 percent of the Gross Domestic Product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees, and companies that support the industry in marketing, law, technology, and business development.
Press Team
Katherine Knight Patterson
VP, Communications
202.662.0783
kpatterson@franchise.org