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April 8, 2022 - WASHINGTON – Rep. Costa has voted to secure urgently needed relief for small businesses across California. The Relief for Restaurants & Other Hard Hit Small Businesses Act will deliver $55 billion to replenish funding for restaurants and establish a new program supporting other small businesses impacted by the pandemic.
“Restaurants and small businesses are the heart of our communities and we need to continue to help business owners through the lasting effects of the pandemic," said Costa. "Continued investment in our small business is key to a full economic recovery.”
Established through Democrats’ American Rescue Plan, the Restaurant Revitalization Fund (RRF) distributed $28.6 billion to restaurants across the country-including $5.7 billion for California businesses, over $35 million in grants coming to restaurants in Rep. Costa's district alone. Due to its popularity, the program quickly exhausted its funding before more than 170,000 eligible businesses could access relief. The Relief for Restaurants & Other Hard Hit Small Businesses Act will provide $42 billion to replenish the RRF so that these restaurants can apply for this assistance.
This legislation also takes action to support other struggling small businesses:
- Providing $13 billion to establish the Hard Hit Industries Award Program, which will assist California small businesses with 200 or fewer employees that have experienced 40 percent or more in lost revenue.
- Updating the Shuttered Venue Operators Grant Program to provide California entertainment venues with more time and flexibility to use federal relief funds.
Source: Congressman Jim Costa
