A bipartisan group of lawmakers in Congress is proposing giving an additional $60 million to the Restaurant Revitalization Fund, according to a statement released Thursday.
As Inc. reports, the Small Business Administration started the program in May, with $28.6 billion for bars, restaurants and caterers. The SBA got more than $65 billion in funding requests within the first two weeks, and had nearly 362,000 applications within three weeks of opening.
Reps. Earl Blumenauer, D-Ore., and Brian Fitzpatrick, R-Pa., along with Sens. Kyrsten Sinema, D-Ariz, and Roger Wicker, R-Miss., are leading the Restaurant Revitalization Fund Replenishment Act, which Blumenauer introduced in the House on Thursday. Sinema introduced a Senate version Thursday as well.
While there’s no timeline for when the bills might be signed into law, advocates for the food-service industry are pushing to speed things up. Read the full story.