To demonstrate the positive impacts of the recently passed tax reform bill, IFA and the Franchise Action Network are compiling names of franchise brands and individual owners around the country who have pledged to reinvest and grow their businesses thanks to the beneficial changes to the tax code.
Pledge to Invest in Our Employees, Businesses and Local Communities
After Tax Cuts and Jobs Act
Congress and the Administration have recently passed a historic tax overhaul, lowering the corporate, small business, and individual tax rates. The business community, including the International Franchise Association (IFA), has long fought for lower tax rates, arguing that it will stimulate the franchise sector, which includes 733,000 franchise businesses, 7.6 million jobs and $404 billion in GDP. We applaud the Administration and Congress for their leadership and commitment to historic tax reform for local franchise businesses. The final tax package is a critical step toward improving America’s business climate, putting money back into business owners’, employees and customers’ pockets, and stimulating the economy.
As a result of this new law, I pledge to use the resources I will save as of result of tax reform to reinvest in our business and our local economy by:
- Hiring additional workers
- Raising wages for existing employees
- Purchasing new equipment
- Expanding my territory and/or purchasing new franchise business locations