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Could New Targeted Relief Be Coming to Certain Businesses?

  • Congress reportedly looking to pursue targeted relief for certain businesses once it completes work on two major pieces of legislation
  • Potential for advancing a measure to replenish the Restaurant Revitalization Fund, which was unable to meet all financing requests
  • Other industries hit hard by the COVID-19 pandemic, such as gyms and hotels, could also see direct relief

Summary by Dirk Langeveld

Further targeted relief could be coming for several business sectors before the end of the year, with Congress expected to turn its attention to this issue once work is completed on two major pieces of legislation.

Congress has approved just two grant programs that direct funding to specific business sectors that were hit hard by the economic impact of the COVID-19 pandemic. The Restaurant Revitalization Fund saw strong demand and was unable to provide funding to all applicants, while the Shuttered Venue Operators Grant program has directed aid to arts and cultural organizations.

Lawmakers are reportedly looking to advance a measure to replenish the Restaurant Revitalization Fund once a consensus is reached on a social policy and environmental bill as well as an infrastructure measure. Restaurants have reported additional challenges despite the economic recovery and relaxation of business restrictions due to the recent wave of COVID-19 pandemic, labor shortages, and higher food costs.

Other businesses that suffered major revenue losses due to the pandemic, including gyms and hotels, have also advocated for direct relief.

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