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National Restaurant Association - Let restaurants go forth and renovate

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Let restaurants go forth and renovate

No matter who they are, where they are from, or what they believe, everybody eats. And millions of Americans do their eating in restaurants, notes Rep. Mike Kelly (R-Pa.).

That translates into a lot of business, entrepreneurship and employment.

It also translates into a lot of wear and tear for a restaurant.

Kelly is on a crusade to make sure restaurateurs get a fair shake from the federal tax code when they renovate, build and improve their restaurants. His Restaurant and Retail Jobs and Growth Act would let restaurants depreciate improvement and construction costs over 15 years, not 39. Congress let the 15-year depreciation schedule expire at the end of 2014.

"Any venue where a massive amount of food is delivered, unpacked, cooked, served and eaten on a daily basis is guaranteed to require frequent refurbishment in order to keep attracting business," Kelly writes in Roll Call.

"With millions of Americans visiting restaurants every day, a timely depreciation schedule is crucial ... Granting long-term tax stability to our nation’s bistros, diners, pubs, taverns and drive-throughs will help their surrounding communities thrive and spawn surefire economic growth from coast to coast."

"Public policy makers should be staunchly on food service’s side," says Kelly. "Unfortunately, our nation’s notoriously outdated tax code is not."

Here's why a 15-year depreciation schedule makes sense.
 

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