Congressman Coffman discusses solutions to increasing gas prices

 

 

Last week, over a dozen franchise industry and business leaders met with Representative Mike Coffman (CO-06) during a business roundtable in Greenwood Village, CO. IFA member Jack Pearce, Executive Director of Annex Brands, hosted the event at the Denver Logistics Center to discuss legislative issues important to the franchise industry including the adverse effects of soaring gas prices on franchised small businesses among other key issues facing the small business community.

The dramatic rising cost of gas over the past two years comes at a time when small business owners are already negatively impacted by declining sales and revenue.  The group indicated that high gas prices limit their opportunity for expansion and growth. Rep. Coffman led a productive conversation about steps the federal government must take to alleviate the issue. A number of potential solutions were brought up including approval of the Keystone XL pipeline and an all-of-the-above energy strategy to alleviate fluctuations in gas prices – both approaches that IFA supports. The meeting also focused on IFA’s pro-growth policy platform which includes greater access to capital, comprehensive tax reform, and the repeal of the health care employer mandate among other issues.

Additionally, IFA member, Jamie Smith, franchisee of Mr. Rooter Plumbing of Greater Baltimore, MD also testified earlier this month before the House Committee on Small Business regarding the effect of soaring gas prices on his business. “As a small business owner, I cannot leverage economies of scale to absorb cost increases like larger corporations.  Absorbing these costs drastically affects my bottom line. I ask American policymakers to immediately invest in strategies for increased energy production, greater use of our existing resources and promotion of alternative energy options like natural gas and hybrid electric vehicles.” IFA members have been instrumental in bringing increased gas prices to the forefront of the current policy agenda as well as in helping legislators understand the strain franchise small businesses are under while waiting for Washington to address the problem.