Industry has lost millions of jobs in lockdowns.
A bipartisan group of lawmakers is pushing for $120 billion in aid for restaurants. Their aim is to prevent further closures and job losses due to the forced shutdowns during the coronavirus outbreaks and the less than full capacity return to business as areas reopen.
Senator Roger Wicker of Mississippi and Representative Earl Blumenhauer of Oregon are taking the lead on the idea, which calls for direct grants administered by the U.S. Treasury Department. Under their proposal, grants to restaurants would be reserved for those with annual sales of less than $1.5 million, keeping a focus on small businesses.
The pandemic sent shockwaves throughout the restaurant and hospitality industry and across the nation businesses were forced to shut their doors, lay off workers, and scramble to still meet overheads of rent or mortgages
The restaurant industry as a whole likely lost more than $120 billion in March, April and May, according to a survey done by The National Restaurant Association. They are also expecting the industry to lose $240 billion by the end of the year. Seventy-five percent of restaurants surveyed say that it is unlikely they’ll be profitable in the next six months.
As the Lord Leads, Pray with Us…
- For members of Congress as they work on additional economic relief packages.
- For restaurants and other small businesses who have suffered extreme losses during the coronavirus pandemic.
- About the reopening guidelines for restaurants to maintain a 25 percent capacity.
Sources: Wall Street Journal, Dish, The Morning Call
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