Support for Restaurants and Small Businesses: New Funds and Aid Rules
This act increases aid for restaurants and establishes a new support program for small businesses affected by the pandemic. It also introduces new rules for transparency, verification, and oversight of these funds to ensure proper use.
Key points
Increased Restaurant Funding: Billions of additional dollars for restaurants impacted by the pandemic.
New Small Business Program: Creation of the "Hard Hit Industries Award Program" for small businesses with up to 200 employees and at least a 40% revenue loss.
Award Priorities: Businesses with higher revenue losses (80% or 60%) and smaller entities (50 employees or fewer) will receive priority for aid.
Transparency and Oversight: Implementation of regular reports on awarded funds, reconsideration processes for denied applications, and audit plans to prevent fraud.
Fund Usage Rules: Funds can be used for payroll, rent, utilities, worker protection, and other essential pandemic-related expenses.
Favorable Tax Treatment: Received funds will not be included in taxable income, meaning businesses will not pay taxes on them.
2022-04-07
For
223
Against
203
Abstain
0
Full voting results
open_in_new
Expired
Additional Information
Print number: 117_HR_3807
Sponsor: Rep. Blumenauer, Earl [D-OR-3]
Process start date: 2021-06-11
Voting date: 2022-04-07
Meeting no: 2
Voting no: 123