'They Need Federal Help': Gov. Wolf Supports RESTAURANTS Act, A Congressional Bill That Would Provide Economic Relief To Independently-Owned Restaurants Struggling Amid The Coronavirus Pandemic
HARRISBURG (KDKA) -- Governor Tom Wolf voiced his support for the RESTAURANTS Act of 2020, a bill that if made into law would provide billions in funds to independently-owned restaurants nationwide.
The bill, Real Economic Support That Acknowledges Unique Restaurant Assistance Needed To Survive Act of 2020, was introduced to the House of Representatives on June 15. The funds would go towards the Restaurant Revitalization Fund, overseen by the Department of Treasury, and would allow for grants to be provided to independent restaurants and food purveyors struggling amid the Coronavirus pandemic.
Specifically, the bill stipulates that the Department of Treasury would have to prioritize establishments in marginalized communities; additionally, any eatery making revenues of $1.5 million or more will not qualify for government funding under the RESTAURANTS Act. If a restaurant closes permanently during 2020, they would need to return funds provided to them by the RESTAURANTS Act and the Department of Treasury.
Gov. Wolf said on Friday that the RESTAURANTS Act would provide $120 billion to independent restaurants impacted by the global pandemic.
"Our nation's independent local restaurants have been especially harmed by this pandemic and they need federal help," said Gov. Wolf. "These small businesses are an important part of every community. They serve as places that help to unite us and are an important economic driver in local communities that create thousands of jobs that working families rely on. The RESTAURANTS Act is a critical step to help many of these small businesses and save jobs from the diner to the farm."
The maximum grant any one restaurant can receive is $10 million to make up for revenue losses. The funds can be used to assist payroll, rent, mortgage payments, food, benefits and other associated costs of the businesses.
Pennsylvania Representatives Dwight Evans, Susan Wild and Brian Fitzpatrick have co-sponsored the bill. Gov. Wolf is asking that other Pennsylvania representatives follow suit.
A full summary of the proposed legislation can be found here.
