The U.S. Senate has failed to advance the Small Business COVID Relief Act of 2022 (S. 4008), ending the possibility of replenishing the Restaurant Revitalization Fund (RRF). The vote is a devastating blow to the restaurant industry and small business operators, according to a Press Release from the National Restaurant Association.
The $48 billion Small Business COVID Relief Act of 2022 (S. 4008), introduced by Sens. Ben Cardin (D-MD) and Roger Wicker (R-MS), included $40 billion for RRF replenishment and $8 billion in support for other industries deeply impacted by the pandemic. The House passed the Relief for Restaurants and other Hard Hit Small Businesses Act of 2022 (H.R. 3807), that included $42 billion to replenish the RRF, on April 7. Both political parties agreed that the RRF should be replenished but couldn’t reach a consensus on how to pay for it. Democrats generally wanted to treat replenishment as emergency spending, while Republicans generally wanted existing funds reallocated.
See the full press release here.
