In a bright moment amidst an awful week for this country, we are pleased to announce that Congress has finally fixed the Paycheck Protection Program.
The PPP has helped countless businesses, but we are an industry with a particularly uncertain path to recovery and it simply hasn’t worked for us.
The National Restaurant Association was one of the first to call for fixes to PPP to preserve our imperiled industry. With the strength of your voice, Congress has finally acted. The Senate just passed the Paycheck Protection Flexibility Act, legislation that would extend deadlines and relax restrictions on how loans are used. The president is expected to sign the bill very soon.
In an era where political discord is the norm and agreement is fleeting, the voice of the restaurant industry has been a unifying theme. This bill passed because Congress heard from us loudly, clearly, and consistently. We appreciate the work of Majority Leader Mitch McConnell (R-KY) and Democratic Leader Chuck Schumer (D-NY).
The PPP has been fixed for many, but our industry faces ongoing challenges and must stay engaged in Washington. We have advanced a number of initiatives, and we will seek your input on how policymakers can provide continued relief to restaurants in these uncertain times.
Today’s action in Congress is a big win, and we cannot thank you enough for answering the call to action.
Executive Vice President of Public Affairs
National Restaurant Association