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The Florida Restaurant Association (FRA) today joined the National Restaurant Association in praising Rep. Mark Foley (R-Florida) for introducing legislation in Congress that would restore the tax deduction for business meals and entertainment expenses to 80 percent.
FRA President & CEO Carol Dover says she believes the bill would be good not only for Florida’s restaurant owners and operators, but for the nation as a whole. "It is time Congress took a good look at how this legislation would benefit all of the nation’s businesses," Dover says. "We echo the stance of The National Restaurant Association on this issue and we are grateful for Rep. Foley’s commitment to pass this important legislation."
According to research conducted by the National Restaurant Association, restoring the business meal deductibility to 80 percent would increase business meal sales by nearly $6 billion and generate an additional $19 billion for the overall economy.