Congress has given its final approval to President Biden’s $1.9 trillion coronavirus relief package, reports NPR. Now the legislation goes to Biden’s desk for his signature, which will happen on Friday, according to the White House.
Biden said on Saturday that this American Rescue Plan, which includes stimulus payments and extended unemployment benefits, will “get the country in a place to get back to normal.”
"This plan puts us on a path to beating the virus," he added. "This plan gives those families who are struggling the most help and the breathing room they need to get through this moment."
The plan also includes a $28.6 billion grant program, which would provide up to $5 million in grants (not loans) for individual restaurants, bars, caterers, breweries and tasting rooms or up to $10 million for restaurant groups. Full Story
According to Politico Pro, Senate Majority Leader Chuck Schumer is urging the Small Business Administration to quickly launch the restaurant relief program. On a call with the Independent Restaurant Coalition, Schumer made it clear that he wants it to be a top priority for Isabel Guzman, President Biden’s nominee to lead the SBA.
"Senate Democrats are going to move the president's nominee for the SBA forward very, very soon," Schumer said. "I've told her already when I've met with her, you've got to get this moving fast, because our restaurants are hurting and need the help."
According to the report, the SBA has already gotten criticism that it hasn’t begun offering $15 billion in grants that Congress authorized in December for live venue operators.
When asked about the delay, SBA spokesperson Andrea Roebker said that Congress set “very diverse specifics” for each eligible entry type, which was being factored into the application system the SB is building to ensure the grants are given to the intended recipients.
"The agency also is bringing on new staff to manually review these applications and the federal government has several required steps that need to be met for a grant posting, which, as stated, the SBA is working on quickly to get in place and processed through the appropriate channels," Roebker said. Full Story (Subscription Required)
Related: Biden Expected to Sign Relief Package; US Hospitality Industry Has Received Over $18 Billion in PPP Loans.