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Mardi 28 Juillet 2009 11:08
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Restaurant Industry Applauds Legislation Introduced by Representative Abercrombie (D-HI) to Restore Business Meal Tax Deductions

(Drinks Media Wire). Measure Would Help Restore and Create Jobs, Provide $18 Billion Boost to U.S. Economy

WASHINGTON, DC – In a move widely applauded by restaurant owners and operators throughout the United States, Representative Neil Abercrombie (D-Hawaii) today introduced legislation that would increase the federal tax deduction for business meals from 50 percent to 80 percent. The measure would restore fairness in the tax code for legitimate business deductions and help local restaurants and small businesses, particularly during these difficult economic times.

“On behalf of restaurant owners and operators throughout the country the National Restaurant Association strongly supports this legislation which would help restore, sustain and create jobs and provide a tremendous boost to the economy,” said Dawn Sweeney, President and CEO of the National Restaurant Association. “We - and the many restaurant employees who have seen their income reduced in these challenging economic times - applaud Congressman Abercrombie for his leadership and urge Congress to pass this important measure.”

According to research conducted by the National Restaurant Association, the restaurant industry continues to be a key driver for the U.S. economy, with overall economic impact expected to exceed $1.5 trillion in 2009. An increase in the tax deduction for business meals to 80 percent would boost business meal sales by $6 billion a year and create a $18 billion increase to the overall economy. The industry currently employs an estimated 13 million people, or 9 percent of the U.S. workforce. It is estimated that for every additional one million dollars in restaurant sales an additional 33 jobs are generated for the economy.

“We believe that particularly during these difficult economic times, the cost of business meals should be treated fairly along with other allowed business deductions,” said Sweeney. “This legislation is an important step that will benefit local restaurants and businesses in communities throughout the nation.”

The National Restaurant Association has long supported fully restoring the federal tax deduction for business meals since it was reduced to 50 percent in 1993. Restaurants, along with small businesses, self-employed individuals and the travel and tourism industry, are most negatively impacted by the current policy. An increase in the business meal deduction would benefit the restaurant and small business community. Restaurants are the number one preference for small business people who conduct meetings outside the office and two-thirds of people who claim the business meal deduction are small business owners who rely on the deduction to grow their businesses and stay competitive.

Founded in 1919, the National Restaurant Association is the leading business association for the restaurant industry, which is comprised of 945,000 restaurant and foodservice outlets and a workforce of 13 million employees. Together with the National Restaurant Association Educational Foundation, the Association works to lead America’s restaurant industry into a new era of prosperity, prominence, and participation, enhancing the quality of life for all we serve. For more information, visit our Web site at www.restaurant.org.

Contact: Sue Hensley (202) 331-5964 shensley@restaurant.org
Maureen Ryan (202) 331-5939 mryan@restaurant.org

 

Contact

 
E-mail : media@dineout.org
Web : http://www.restaurant.org
Société : National Restaurant Association
Adresse : 1200 17th St., NW - 20036 Washington DC
Pays : UNITED STATES
Téléphone : +1 (202)-973-3677
Fax : +1 (202)-973-3961

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