The National Restaurant Association announced that outlook for restaurant job growth is at a two-year high.
National Restaurant Association
After the House Committee on Ways and Means’ late-May approval of “Fighting Hunger Incentive Act of 2014,” many restaurants are awaiting passage in Congress to make tax deductions on charitable food donations permanent.
For nearly 30 years since its inception in 1976, the provision’s tax deductions on charitable food donations were limited to C corporations. And since 2005, it has been temporarily expanded to other entities.
Fueled by improving same-store sales and customer traffic and a positive outlook among restaurant operators, the National Restaurant Association’s Restaurant Performance Index (RPI) rose for the second consecutive month.
The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.7 in April, up 0.3 percent from March and the strongest level since May 2013. In addition, the RPI stood above 100 for the 14th consecutive month, which signifies expansion in the index of key industry indicators.
The House Committee on Ways and Means approved the “Fighting Hunger Incentive Act of 2014,” legislation that makes permanent a temporary provision allowing incorporated small businesses the enhanced deduction for donations of food inventory.
The 95th annual National Restaurant Association Restaurant, Hotel-Motel Show and the co-located 7th annual International Wine, Spirits & Beer Event (IWSB), recently held in Chicago, posted positive growth in both attendee and exhibitor numbers for the third year in a row.