Vote Imminent On RRF Refill

The U.S. Senate could vote this week on whether or not to replace the Restaurant Revitalization Fund (RRF).

If approved, the RRF would provide billions in grants to restaurants and other small businesses that have been and continue to be adversely affected by the COVID pandemic.

The restaurant revitalization fund was originally created when the American Rescue Plan Act was created and funded. According to the National Restaurant Association, more than 278,000 restaurants received $ 28.6 billion in aid with the first installment of payments.

The Senate is about to vote on whether or not to debate the issue. If it gets the 60 votes needed to open the floor for debate, the Senate could vote on this small business aid bill by the end of the week.

The Senate could consider the restaurant revitalization fund bill this week

RRF could provide an additional $ 48 billion for restaurants and other businesses. This money would go to the thousands of original RRF applicants who did not get a response the first time this fund was introduced during the pandemic. He just ran out of money.

In addition to those companies that might be waiting for this money to be returned to the RRF, the way the invoice is written would also provide money to other companies.

Passing is not a safe thing

This proposed expenditure is not unanimously supported, at least as it is written. While Democrats in Congress argue that the RRF is needed for emergency spending, Republicans say the money for this program should be taken from other already spent unspent COVID relief money.

Democrats argue that the cash should be allocated because the first round of funding did not cover everyone who was eligible and had applied.

Of the $ 48 billion proposed, most will go to companies that previously applied for RRF funding. The rest would be open to companies such as event centers and gyms, the companies hardest hit by government closures during the pandemic.

Bill passed in April

The House of Representatives approved RRF in April. It was originally designed to help restaurants and other businesses that were severely affected such as theaters and transportation contractors.

It is also designed to cover the subsidies that bar and restaurant owners would have applied for in the first round of the Restaurant Revitalization Fund last May.

The new legislation had improved the established audit requirements.

Restaurant defense

The National Restaurant Association argues that the need to replace RRF is immediate. He published a survey in January stating that the first round of RRF funding saved 900,000 jobs. The survey also noted how tough the catering industry was for the Omicron variant.

Figures show that 88% of responding restaurants experienced a drop in demand for indoor food. And 74% of respondents said the pandemic had made their restaurants less profitable. The poll included a letter to Congress that included the following:

“The new data shows that the restaurant’s recovery is stalled and almost incomplete. The restaurant industry is at a turning point. We need your leadership now more than ever. Congress must act now to replace the RRF in the next legislative package to fund the government “.

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