There’s been a lot of big news on franchising coming out of Capital Hill of late.
Last week, we blogged about the announcement of the official links that have been forged between the IFA and the Army Reserve. Today, we’d like to pass on an update about the Help Veterans Own Franchises Act. Introduced in the summer of 2009, the bill now has 45 co-sponsors and is before the Senate.
The bill provides franchises with tax credits for selling franchises to veterans. According to the bill, the credits amount to 50% of the franchisee fee, though there would be a cap of $25,000.
The franchising website BlueMauMau quotes the IFA’s Alisa Harrison, who says the association is vigorously campaigning for the bill to become law.
“The bill was recently introduced in the Senate and we will continue to work aggressively on passage of this bill," she says. "We have testified twice in the past year."
Harrison also added: “This bill is not about helping veterans find employment. It is about helping them take the skills they gained in the military and applying them in their own business.”
BlueMauMau looks at the pro’s and con’s of the bill in their story. We’ll be providing updates on the bill as it passes through the Senate.