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Congress Passed Monumental COVID Relief Package December 21
Congress passed a $900 billion COVID relief package that includes new federal assistance to small businesses. This follows months of IFA staff and IFA member advocacy on behalf of franchise businesses.
The bill contains major pro-franchise provisions, including an additional round of PPP for the most affected businesses (with additional support within the PPP for restaurants & hotels), PPP tax deductibility, simplified PPP loan forgiveness, enhancements to the SBA 7a program and an expanded Employee Retention Tax Credit.