IFA Praises House Small Business Committee Leadership for FASB Push
FOR IMMEDIATE RELEASE
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Jenna Weisbord, 310-995-0839
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WASHINGTON, D.C., JULY 27 – The International Franchise Association (IFA) today praised U.S. House Small Business Committee Chairman Steve Chabot and Ranking Member Nydia Velazquez for their push for increased clarity on franchise fees from the Financial Accounting Standards Board (FASB).
“IFA is pleased that Chairman Chabot and Ranking Member Velazquez are taking the lead in helping franchise businesses gain clarity on the rules and regulations that affect them. Their committee is a valuable voice for small businesses on a wide range of issues, and we look forward to continuing working with them,” said IFA Senior Vice President of Public Affairs Matt Haller.
Chabot and Velazquez sent a letter to FASB requesting a staff briefing on confusion surrounding the initial franchise fee by August 3.
Celebrating 58 years of excellence, education, and advocacy, the International Franchise Association is the world's oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations and educational programs to protect, enhance and promote franchising and the more than 733,000 franchise establishments that support nearly 7.6 million direct jobs, $674.3 billion of economic output for the U.S. economy and 2.5 percent of the Gross Domestic Product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees, and companies that support the industry in marketing, law, technology and business development.