You are here
ACT NOW to Support Federal Restaurant Rescue Package
March 19, 2020
As much as we have been sending information around about what is happening locally across the region, it is critically important to be aware of what is happening on the national level, as a majority of funding for relief and stimulus will come at the federal level. The action taken on the Hill impacts us locally, so we must be engaged.
We have two important Congressional updates, and one involves you taking action TODAY.
First, we need you to ACT NOW to ensure Congress provides adequate relief to the restaurant and small business industry! This is the "Call to Action" Mike Whatley at the National Restaurant Association mentioned on yesterday's industry call. Congress is looking to pass a $1.3 trillion broad economic rescue package. Our partners at the National Restaurant Association have put together an aggressive campaign and comprehensive mechanisms of support for our industry, and we need your help to guarantee restaurant relief is properly addressed in the federal package.
This plan provides direct and targeted relief designed to benefit restaurant and foodservice businesses of every size in every corner of the country. It will provide:
Economic forecasts indicate restaurants and the foodservice industry could sustain $225 billion in losses and eliminate 5-7 million jobs over the next three months. By taking action, you will tell your personalized story about how this has negatively impacted you, your employees, and your industry and call on President Trump and Congress for their support of the National Restaurant Association restaurant recovery plan.
Click here to read the letter the NRA sent to the president and Congressional leaders that includes a detailed breakdown of recommendations.
Second, Congress passed a paid leave bill as part of their second phase in addressing the coronavirus outbreak. The effective date will likely be April 2nd and we will send a detailed update in the coming days so please stay tuned.
This plan provides direct and targeted relief designed to benefit restaurant and foodservice businesses of every size in every corner of the country. It will provide:
- the Department of Treasury to create a $145 billion Restaurant and Foodservice Industry Recovery Fund.
- direct relief from a newly restaurant recovery fund
- community grants for disaster relief assistance
- guaranteed loans and federally backed business interruption insurance
- lost revenue coverage from the government
- expanded access to efficient and affordable loans
- special disaster unemployment assistance for workers
- tax breaks to help your cash flow
- a fix to the QIP tax glitch
- and more
Economic forecasts indicate restaurants and the foodservice industry could sustain $225 billion in losses and eliminate 5-7 million jobs over the next three months. By taking action, you will tell your personalized story about how this has negatively impacted you, your employees, and your industry and call on President Trump and Congress for their support of the National Restaurant Association restaurant recovery plan.
Click here to read the letter the NRA sent to the president and Congressional leaders that includes a detailed breakdown of recommendations.
Second, Congress passed a paid leave bill as part of their second phase in addressing the coronavirus outbreak. The effective date will likely be April 2nd and we will send a detailed update in the coming days so please stay tuned.
Please share this link with your friends, colleagues and everyone you know to encourage them to take action today!
