WASHINGTON, D.C. – Today, Representative Steve Stivers (R-OH) joined a bipartisan coalition of lawmakers in supporting the Real Economic Support That Acknowledges Unique Restaurant Assistance Needed to Survive (RESTAURANTS) Act of 2020.

The bill, introduced by Representative Earl Blumenauer (D-OR), would create a $120 billion restaurant stabilization grant program designed to help independent restaurants deal with the long-term structural challenges facing the industry due to COVID-19.  The fund is available exclusively for restaurants with revenues less than $1.5 million, and prioritizes those owned by minorities or underrepresented communities.

As of August, an estimated 11 percent of Ohio restaurants have closed permanently, and over half fear that they may be forced to close within the year.  In an effort to ensure the over 22,000 eating and drinking locations throughout the state remain in operation, the stabilization fund will help address the massive revenue losses due to government mandated social distancing, rising costs of supplies, new expenses for personal protective equipment, and a decrease in the public’s willingness to dine out.

“We have already seen far too many neighborhood restaurants closed down throughout this pandemic,” Stivers said. “These are institutions that not only provide hundreds of thousands of jobs and inject billions of dollars into Ohio’s economy, but that bring our communities together.  Congress has a responsibility to step in and support small restaurants, particularly those in underserved areas who have continued to work for their neighbors, through this unprecedented crisis.”

According to the Ohio Restaurant Association, 52 percent of restaurants in the state are operating at less than 50 percent of their 2019 sales, and over 80 percent do not anticipate breaking even in 2020.

The RESTAURANTS Act has been endorsed by the Independent Restaurant Coalition.

To read the text of the bill, click here.

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