Senate Minority Leader Chuck Schumer to Co-Sponsor Senate Version of Restaurant Act
Senate Minority Leader Chuck Schumer (D-NY) will co-sponsor the Senate version of the Real Economic Support That Acknowledges Unique Restaurant Assistance Needed To Survive Act of 2020 aka the RESTAURANTS Act of 2020—a $120 billion fund to support restaurants with 20 or fewer locations. While negotiations on the next COVID-19 relief package have broken down in DC and it’s highly uncertain of what might make it into a final bill, this move is a positive sign of support for our industry which will be critical as a final package is negotiated.
The RESTAURANTS Act of 2020 is a specific restaurant fund supported since early March by the Seattle Restaurant Alliance and Washington Hospitality Association, in coordination with the National Restaurant Association. The RESTAURANTS Act is the first component of the Blueprint for Restaurant Revival, which outlines a menu of relief efforts needed from the federal government to support restaurant survival and recovery.
“Restaurant jobs are the heartbeat of local communities across New York and the nation and the lifeblood of our economy, employing more young people, single mothers, and immigrants than most industries. As one of the hardest hit industries during this pandemic, we must do everything we can to ensure our restaurants and our restaurant workers are protected, otherwise we will shortchange our entire economy,” said Senate Minority Leader Chuck Schumer (D-NY). “I am proud to stand with the National Restaurant Association and support the RESTAURANTS Act to give restaurants the relief they need to weather this crisis so they can eventually fully reopen and bring back to work millions of workers who have lost their jobs. Restaurants can’t wait. Congress needs to act now to pass this important legislation and other critical assistance that struggling small businesses and workers are in desperate need of.”
Both House, Senate and the White House remain far apart in negotiating a package and congress is now in recess. However, congress can return to vote on a package if a compromise is reached. We’ll continue to keep you informed of substantive developments as they occur.