Industry News | February 2, 2010

NRA Welcomes Small-Business Support in U.S. Budget

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Dawn Sweeney, the president and CEO of the National Restaurant Association, issued the following statement in response to the budget blueprint submitted to Congress by President Obama:

“The National Restaurant Association, representing the nation’s second-largest private sector employer, welcomes initiatives in the federal budget to support small business, job creation, and our nation’s economic recovery. We support President Obama’s call for tax incentives to help spur the economy and generate additional jobs.

“We encourage the extension of expired tax provisions that allow businesses an enhanced deduction for expensing and ‘bonus’ depreciation for capital expenditures. These measures will encourage restaurants to invest and grow. A tax credit for new hires will further encourage restaurateurs to create jobs.

“While our industry expects to reverse a short-term contraction and add jobs in 2010, the scale of the industry’s upturn depends largely on consumer confidence. Until personal disposable income increases and general unemployment levels fall, economic recovery will be pro­longed. Consequently, we strongly support efforts that lead to measurable, overall results, while reducing deficits in the long term.”

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