Congressman Schiff on House Passage of $55 Billion Restaurant and Small Business Relief Funding
“America is moving beyond the pandemic and has reopened for business. But still, thousands of small businesses like restaurants, arts and entertainment venues, and more are struggling to recover from the worst of the economic toll of COVID-19. This much-needed relief will help eligible entrepreneurs stay afloat as life returns to normal, bring back staff to help meet rising demand, and ensure the people and places we love most continue to grow and thrive in our communities. I will never stop fighting on behalf of small business owners and entrepreneurs – who have always been an engine of economic growth for our nation – as they continue to rebuild and recover.”
The Relief for Restaurants and Other Hard-Hit Small Businesses Act of 2022 would:
- Provide $42 billion to replenish the Restaurant Revitalization Fund, allowing the Small Business Administration to award grants to eligible entities that previously applied to the program and were unable to secure funding.
- Provide $13 billion to a new Hard-Hit Industries Award Program, which will provide awards to small businesses across all industries and sectors that were hit hardest by the pandemic but not eligible for RRF or the Shuttered Venue Operators Grant Program.
- Extend the timeline for Shuttered Venue Operators Grant recipients to utilize their grant awards.
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