IFA, 96 BUSINESS GROUPS CALL ON CONGRESS TO PASS PPP SECOND DRAW, DEDUCTIBILITY, & FORGIVENESS

December 01, 2020

WASHINGTON, DEC. 1 – The International Franchise Association (IFA), along with 96 business groups, today sent a letter to Congress encouraging swift passage of legislation that would allow small businesses a second draw on Paycheck Protection Program (PPP) loans, ensure PPP tax deductibility, and provide forgiveness for the smallest PPP borrowers.

The groups, which include IFA, the American Hotel and Lodging Association, the American Trucking Associations, Associated Builders and Contractors, International Council of Shopping Centers, NFIB, National Association of Manufacturers, the Small Business and Entrepreneurship Council, the U.S. Chamber of Commerce, the US Travel Association, and the Wine and Spirits Wholesalers Association, represent a broad sector of the American economy.

“IFA research shows that without Congressional relief, some 36,000 franchise small businesses won’t survive the winter. Thankfully, there’s still time for Congress to act – but the clock is ticking for American small businesses, their employees, and the communities they support,” said Mike Layman, IFA Vice President of Government Relations. “Congress should move quickly to support these American small businesses who have worked so diligently to keep their lights on and workers employed in an unprecedented situation.” 

In part, the letter states:

Small businesses are struggling throughout the country during this unprecedented health and economic crisis. With the election now behind us, our members are desperately calling on Congress to act. It is unconscionable that there is more than $130 billion still available in the PPP loan program, yet small businesses and their employees are unable to access those critical funds because of congressional inaction. We urge you to provide a lifeline for small businesses facing insolvency, closure, and layoffs from what has become a prolonged economic crisis due to the pandemic.

The full letter is available online here.

The list of signatories is below:

AICC, The Independent Packaging Association

Academy of General Dentistry

Agricultural Retailers Association

Air Conditioning Contractors of America

American Association of Franchisees and Dealers

American Bakers Association

American Beverage Licensees

American Foundry Society

American Frozen Food Institute

American Hotel & Lodging Association

American Institute of Architects

American Road & Transportation Builders Association

American Society of Travel Advisors

American Staffing Association

American Trucking Associations

American Veterinary Medical Association

Asian American Hotel Owners Association

Associated Builders and Contractors

Associated Equipment Distributors

Associated General Contractors of America

Association of the Wall and Ceiling Industry

Auto Care Association

CAWA – Representing the Automotive Parts Industry

Commercial Food Equipment Service Association

Consumer Bankers Association

The Design-Build Institute of America

Energy Marketers of America

Equipment Leasing and Finance Association

Family Enterprise USA

Foodservice Equipment Distributors Association

Franchise Business Services

Global Business Travel Association

Global Cold Chain Alliance

ISSA – The Worldwide Cleaning Industry Association

Independent Electrical Contractors

Independent Insurance Agents & Brokers of America

Independent Office Products & Furniture Dealers Alliance

Industrial Fasteners Institute

International Council of Shopping Centers

International Foodservice Distributors Association

International Franchise Association

International Warehouse Logistics Association

Job Creators Network

Latino Hotel Association

Manufacturer & Business Association

Marine Retailers Association of the Americas

NACS

NFIB

National Association of Black Hotel Owners, Operators and Developers

National Association of Electrical Distributors

National Association of Home Builders

National Association of Manufacturers

National Association of the Remodeling Industry

National Association of Professional Employer Organizations

National Association of Trailer Manufacturers

National Association of Truckstop Operators

National Association of Wholesaler-Distributors

National Community Pharmacists Association

National Cotton Council

National Council of Chain Restaurants

National Electrical Contractors Association

National Electrical Manufacturers Representatives Association

National Fastener Distributors Association

National Fisheries Institute

National Franchisee Association

National Marine Distributors Association

National Office Products Alliance

National Pawnbrokers Association

National Ready Mixed Concrete Association

National Restaurant Association

National Retail Federation

National Stone, Sand and Gravel Association

National Waste & Recycling Association

Nebraska Retail Federation

New Hampshire Retail Association

North American Association of Food Equipment Manufacturers

Office Furniture Dealers Alliance

Outdoor Power Equipment and Engine Service Association

The Payroll Group

Pet Industry Distributors Association

Petroleum Equipment Institute

Professional Beauty Association

Retail Association of Maine

Retail Bakers of America

Small Business Council of America

Small Business & Entrepreneurship Council

Small Business Legislative Council

Small Business Majority

Society of American Florists

Tire Industry Association

The Transportation Alliance

U.S. Chamber of Commerce

U.S. Travel Association

United Fresh Produce Association

Washington Retail Association

Wine & Spirits Wholesalers of America

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