“This historic legislation is about rebuilding the backbone of this country and giving people in this nation, working people, middle class folks, people who built the country, a fighting chance,” said President Biden. “That’s what the essence of it is. And I’m going to have a lot more to say about it tonight and in the next couple of days.” He then went on to sign the historic legislation.
The Distilled Spirits Council of the United State – DISCUS released the following statement about the bills signing and the impact on the hospitality industry.
“This critical funding provides hope and optimism for millions of restaurant, bar and craft distillery owners and hospitality workers who have hung in there over the past year waiting for brighter days,” said DISCUS President & CEO Chris Swonger.
“Help is on the way, and with the progress on the vaccine front, these hospitality businesses will begin to bounce back and thrive once again. We commend President Biden and Congress for recognizing the importance of reviving the hospitality industry and the role these businesses play in creating jobs, supporting local communities and bringing people together.”
What’s in the COVID-19 Bill that Will Help the Hospitality Industry?
- The COVID-19 relief package provided $28.6 billion for the Restaurant Revitalization fund. Through this fund, eligible entities may receive grants to offset revenue losses in 2020 compared to 2019.
- An eligible entity includes: a restaurant, saloon, tavern, bar, lounge, tasting room, taproom, licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products, or similar facility.
- Grants may be used for payroll, mortgage or rent payments, utilities, maintenance expenses (including construction to accommodate outdoor seating), supplies (including protective equipment), food and beverage expenses within the scope of normal business practice, covered supplier costs, operational expenses and paid sick leave.