The National Restaurant Association has sent a letter to congressional leaders pushing for the passage of the Restaurant Revitalization Fund which could come up for a vote this week.
In the letter, the NRA states real sales at restaurants in January were lower than volumes posted in each of the preceding 10 months and that economic conditions threaten nearly 20% of restaurants.
“With the looming threat of another variant and growing challenges of inflation for both operators and consumers, the economic boost RRF could provide for those 177,000 restaurants would reach far into our communities,” Sean Kennedy, EVP, public affairs for the NRA, said in a statement. “This should be the driving factor in bipartisan support for replenishing the RRF. These restaurants fighting for survival cannot go it alone any longer and should not be treated as a spot in the rear-view mirror of Congress.”
An NRA survey of restaurant operators found 96% of RRF recipients said the grant made it more likely that they would be able to stay in business; 92% said the grant helped them pay expenses or debt that had accumulated since the beginning of the pandemic.
In addition, the survey found:
- Nearly 50% of restaurant operators that did not receive RRF grants feel it’s unlikely that they will stay in business beyond the pandemic without a grant.
- 94% of restaurant operators that applied for an RRF grant, but did not receive funding, said a future grant would enable them to retain or hire back employees.