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IFA Praises Coons, Rubio Bipartisan Jobs Bill for Support of Small Business and Veterans
The IFA praised Sen. Chris Coons (D-Del.) and Sen. Marco Rubio (R-Fla.) for introducing bipartisan jobs legislation, the American Growth, Recovery, Empowerment and Entrepreneurship Act, or AGREE Act, to provide tax relief to franchise small businesses and tax credits to returning veterans to purchase franchise businesses.
Speaking at the Capitol Hill press conference with Sen. Coons, Sen. Rubio and Steve Case, Founder of AOL, and current CEO of Revolution, and a member of the President’s Council on Jobs & Competitiveness, IFA President & CEO Steve Caldeira stated, “We applaud the bipartisan efforts of Sens. Coons and Rubio for developing bipartisan legislation that will solve some of the uncertainty facing IFA members on tax issues, while also providing incentives to America’s service men and women returning from Afghanistan, Iraq and Southwest Asia interested in becoming franchise owners. Read more
The Help Veterans Own Franchises (HVOF) Act, sponsored by Sen. Bob Casey (D-Pa.) and Rep. Aaron Schock (R-Ill.), establishes a tax credit for honorably discharged veterans to become small business owners by offering tax credits to offset start-up costs equal to 25% of franchise fees. Since the average franchise business creates 15 jobs, the Help Veterans Own Franchise Act will turn our military heroes into economic leaders, creating urgently needed jobs in communities across America.
Recent media attention indicates that veteran issues are at the forefront of our legislators’ agendas. This summer IFA applauded President Obama’s announcement of new proposals to help veterans returning to the civilian economy find jobs and called on members of Congress to support the reintroduction of legislation to boost small business ownership by U.S. veterans as they re-enter the civilian economy.
The President’s proposal included tax credits for businesses that hire veterans, a new Department of Defense task force charged with assisting service sector members find private sector jobs, new programs that ensure service members have the skills and training needed to transition to private sector jobs, and a Labor Department and Office of Personnel Management initiative to begin enhanced career development and training programs to match veterans with private sector jobs.
“We look forward to working with the administration to ensure opportunities for veterans to own their own franchise small business is included as part of the government’s important efforts to increase job opportunities for veterans at this critical time,” said IFA President & CEO Steve Caldeira.
Call and write your local Representative in Congress and ask your legislator to sponsor the Help Veterans Own Franchises Act. Ask your veteran franchisees to send letters and emails. For more information and to find out how you can support the Help Our Veterans Own Franchises Act click here.
Rep. Jeff Miller, Chairman of the House Committee on Veterans’ Affairs, this summer introduced comprehensive legislation to help stem the rising unemployment rate among America’s veteran population, which stands at nearly 1 million. The Veteran Opportunity to Work (VOW) Act of 2011 (H.R. 2433) is a 360 approach that incorporates education, training, protections, and eliminates roadblocks in the system to provide veterans with the opportunity to compete in a 21st century economy.
The IFA’s “Help Veterans Own Franchises Act” would add small business ownership to benefits currently under consideration for Americans who have served. Read more