December 13, 2001

At this moment, negotiations over an economic stimulus package have stalled in the United States Senate. The House of Representatives passed their version of a stimulus package several weeks ago, but the Senate has not been able to agree to a specific package.

There are several provisions being discussed as part of the final package that are of interest to the restaurant industry:

1. Accelerated phase-in of rate cuts - enacted earlier this year
2. Bonus depreciation write-offs for certain assets
3. Worker-relief provisions (i.e. extended unemployment and healthcare benefits)
4. Payroll tax "holiday" - exempting employers and employees from payroll taxes for one month or possibly longer
5. Tax relief for the travel industry - (i.e. an increase in the meal and entertainment deduction)
6. Extension of the work opportunity tax credit (WOTC) - which is set to expire at the end of this year

The Senate must move quickly in order to get the package to the President before Congress adjourns for the year.

HOW YOU CAN HELP

1. Call your Senators. The Capitol Switchboard is (202) 224-3121. Ask your Senators to "Tell Senate Majority Leader Daschle to address the economic stimulus package before Congress adjourns."

2. Spread the word. Forward this alert to your managers, employees, friends and family.

3. To obtain more information about this issue or your members of Congress, visit http://www.restaurant.org/government. If you have any questions, call the Grassroots Department at 800/424-5156 x5905 or email us at [email protected]. Thank you!

Source: National Restaurant Association