Tax savings are resulting in positive impacts for franchise businesses across the U.S. Left to right, Chase Pierson, Larry Patterson and Shane Price of Glass Doctor during an April 12 visit to the U.S. Capitol and White House.
By Andrew Parker, CFE, and Sarah Eustace
Hundreds of franchises are joining businesses large and small across the U.S. turning tax savings into wage increases, bonuses, employee training, new jobs, growth, equipment, technology and other forms of economic expansion. Along with other representatives of the business and manufacturing communities, IFA members participated in an April 12 White House ceremony in the Rose Garden with President Donald Trump, Vice President Mike Pence, cabinet officials and members of Congress.
IFA released a pledge last week signed by nearly 400 members of the franchise and small business community, and their employees, about the impacts of the Tax Cuts and Jobs Act. Launched in January, the effort is part of a year-long campaign to highlight business owners that plan to use resourced from the tax cuts to create new jobs and increase wages.
Related: How Have Lower Taxes Impacted Franchises?
After the tax bill passed, “franchise optimism spiked across the country, noted IFA President and CEO Robert Cresanti, CFE. “Small business owners are reinvesting in their businesses and communities, and improving the lives of their greatest assets – their employees,” he said. “The recent tax overhaul has been a critical step toward improving America’s business climate.”