A restaurant industry still reeling from Covid is begging Congress for another bailout. But officials are starting to concede that it’s probably too late.
“There is virtually nothing the economy needs from the federal government.”Just one-third of the restaurants that sought part of the $28.6 billion set aside for the industry in last spring’s Covid relief bill said they received it before the money ran out, spurring the current push to add roughly $48 billion more to the pot. The restaurant cash was delivered on a first-come, first-serve basis, and the funds were exhausted within weeks.
“There are literally restaurants who received funding, and across the street, another one, just as qualified, got approved and got nothing. I think it’s grotesque,” said Phillips, who owns his own businesses that did not seek or receive aid. and, who are working on a bipartisan deal as part of next month’s massive government funding package. But those talks have dragged on for weeks, and lawmakers and aides privately say it’s unclear if they can reach an agreement that could pass the Senate.
Administration officials, meanwhile, are wary of further complicating the path toward a bipartisan government funding agreement, which could include at least $30 billion for the public health components of the Covid fight. Health officials have stressed that they risk being caught unprepared for another surge if the money needed to stockpile vaccines and therapeutics isn’t secured soon.
“There was always a dual goal behind the American Rescue Plan,” said Sperling, who oversees the package’s implementation. “Which was to both ensure we were jumpstarting a strong economy, a strong jobs market and labor market and ensuring there was the firepower and flexibility to have a resilient recovery that could overcome challenges like we’ve seen with Delta and Omicron.”
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