New bill introduced in Congress could help struggling small businesses
If the bill passes, it would allocate $42 billion for the Restaurant Revitalization Fund and $13 billion for other businesses impacted by the pandemic.
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Apr 6, 2022, 2:38 AM
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Updated 843 days ago
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332ds agoA new bill introduced in Congress may help small businesses struggling since the COVID-19 pandemic hit.
If the bill passes, it would allocate $42 billion for the Restaurant Revitalization Fund and $13 billion for other businesses impacted by the pandemic.
The Independent Restaurant Coalition says only about a third of the 300,000 restaurants and bars that applied for Restaurant Revitalization Fund grants actually received the money. The bill would be able to help the businesses that didn't get any help.
The coalition reports that about 80% of the restaurants are on the verge of closing.
The owners of Savvy Bar and Bistro in Brooklyn, which opened right before the pandemic hit, say the funding would help significantly.
The bill is expected to come to a full vote in the House sometime this week.
