The National Restaurant Association (NRA) hailed the recent passage of a bill in the U.S. House of Representatives that will provide the nation's restaurants and small businesses with tax relief and assistance in accessing capital. The Small Business Jobs Act is expected to be signed into law by President Obama. In support of the measure's passage through the House, NRA executive vice president of policy and government affairs Scott DeFife issued the following statement:
"This bill will help restaurants and small businesses with tax relief and assistance in gaining access to capital that is critical to economic and financial recovery. Our industry, employing nearly 13 million Americans at 945,000 restaurants locations nationwide, is composed] mainly of small, independent businesses.

"Households are still holding back on spending, and as a result many restaurant operators are continuing to struggle. The provisions in this bill to expand access to capital will help restaurant operators make necessary investments, hire and retain workers, and, in certain cases, keep their doors open. The modernization of popular Small Business Administration loan programs, the inclusion of refinance options and extension of expiring loan guarantees and borrower fee reductions will go a long way to help small businesses in this difficult credit climate.

"The expensing provisions will encourage restaurants to undertake capital expenditures, and these will have a multiplier effect, spurring economic activity and job growth in communities throughout the country."
For more information, visit ww.restaurant.org/advocacy.