Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) cosponsored the bipartisan Real Economic Support That Acknowledges Unique Restaurant Assistance Needed To Survive (RESTAURANTS) Act, which would establish a temporary Restaurant Revitalization Fund in the Department of Treasury (Treasury) to make grants available for eligible food and beverage purveyors to cover specified costs.
“Restaurants have been facing massive revenue losses caused by social distancing efforts to stem the spread of the coronavirus and a decrease in the public’s willingness to dine out. Nevada has approximately 6,000 restaurant establishments and about 15% of the state’s employment is from this sector. I’m committed to working to ensure Nevada’s small business restaurant owners and the people they provide jobs for are helped during this challenging time so that our vital hospitality industry in Nevada can rebound more quickly.”
BACKGROUND:
The RESTAURANTS Act would authorize $120 billion for the Restaurant Revitalization Fund. It would also require Treasury to prioritize awarding grants to marginalized and underrepresented communities, and only award grants to eligible food and beverage purveyors with annual revenues of less than $1.5 million.
###