WASHINGTON, DEC. 9 – The International Franchise Association (IFA) today released the following statement supporting the bipartisan COVID-19 relief proposal unveiled today in Congress:
“This bipartisan proposal is a strong framework for small business relief that Congress can and should pass before the holidays,” said Matt Haller, IFA Senior Vice President of Government Relations and Public Affairs.
“This framework includes IFA members’ top priorities, namely a second draw on Paycheck Protection Program (PPP) loans, tax deductibility for PPP expenses, and simplified PPP loan forgiveness for loans under $150,000. Importantly, this proposal chooses widely available, need-based support over industry-specific proposals that arbitrarily pick winners and losers,” Haller added.
“IFA research shows that without Congressional action, 36,000 franchise businesses will close this winter. While long-term policy changes are still needed to ensure a full economic recovery, this bipartisan proposal has just what these small businesses need to make it through an extraordinarily difficult season.”
Celebrating 60 years of excellence, education, and advocacy, the International Franchise Association 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 more than 733,000 franchise establishments that support nearly 8.4 million direct jobs, $787.5 billion of economic output for the U.S. economy, and 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.