QSR Magazine: What Trump’s Tax Reform Means for Restaurants

Restaurants are already seeing the effects of the tax reform bill signed by President Trump. According to a recent QSR Magazine article, the bill signed on December 22 rolls out $1.5 trillion in tax cuts, largely benefitting high earners. Business such as Wells Fargo, AT&T and Pita Pit USA are using the cuts to give back to employees.

Pita Pit USA President and CEO Peter Riggs enjoys being able to give back to his franchisees and customers. “Anytime we can have a little bit more money to invest in our people, our business and our franchises over giving more money to the government, I’ll take that bet any day of the week,” said Riggs.

Whether that is paying team members more money, sponsoring a local team or opening new locations, franchises can invest that extra cash back into the business and the community. And as consumers start to see individual tax savings, this will often take effect by an increase in spending in the hospitality industry.