The International Franchise Association (IFA) has congratulated President Obama on his re-election and new members of Congress.

Throughout the election IFA members promoted the power of franchised small businesses to help improve the US economic recovery. It is now urging President Obama and Congress to “address long-term fundamental fiscal reform, including comprehensive tax reform, reforming entitlement programmes and reducing the unsustainable debt”.

Steve Caldeira, IFA President, added: “The current Congress should act immediately to pass a short-term deal that would avert the fiscal cliff by extending all current tax rates until lawmakers in the new Congress can consider a comprehensive overhaul of the tax system.”

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