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Food Franchise Welcome Tax Relief

Those that work at the top of the food franchise industry have welcomed a new tax measure signed into law last week.


President Obama has introduced The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 into law. Essentially this act will extend tax cuts and jobless benefits for another two years.


Scott DeFife, executive vice president for policy and government affairs for the National Restaurant Association, told the National Restaurant News that he “believes this tax agreement is vital to economic recovery, and we commend the White House and bipartisan Congressional leaders for moving this compromise package. The bill will provide certainty for the next couple of years that both encourages business investment and allows consumers to keep more of their income, which will help spur more economic activity.”


Matthew Shay, former IFA president added that the bill “is going to go to satisfy pent-up demand, and will help stimulate activity and job growth as it spreads throughout the economy.”


This bill will empower consumers to spend more, to eat out at restaurants more, and ultimately to pump more money into the domestic economy. That’s something that helps all franchises.

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