National Restaurant Association shares key operator concerns
At the recent National Restaurant Association Public Affairs Conference, operators, state restaurant associations and staff leaders focused on three key areas of concern for the industry:
- Minimum wage and tip credit elimination – The Association opposes the U.S. Raise the Wage Act that would more than double the federal minimum wage of $7.25 per hour to $15 per hour by 2025 and eliminate the tip credit. The rate hike could significantly impact small businesses. It also could drive increased automation in the foodservice industry.
- Reporting burdens of the Affordable Care Act – The Association supports the bipartisan Commonsense Reporting Act that would reduce the paperwork burden on employers complying with the Affordable Care Act.
- Depreciation error – A drafting error in a 2017 tax bill changed the depreciation period for Qualified Investment Property in restaurant improvements from 15 to 39 years. The Restoring Investments in Improvements Act would correct this situation that makes it unfairly expensive for owners to improve and upgrade restaurants.