Home > Coronavirus/COVID-19 > Congress approves $28.6 billion Restaurant Revitalization Fund

Congress approves $28.6 billion Restaurant Revitalization Fund

Following the U.S. Senate’s passage of the $1.9 trillion American Rescue Plan on March 6, the U.S. House of Representatives approved the final version of the new stimulus package on March 10. President Biden signed the stimulus package into law on Thursday, March 11, 2021.

As part of the American Rescue Plan, Congress approved a $28.6 billion Restaurant Revitalization Fund (RRF), which will provide federal grants to eligible foodservice and drinking establishments like restaurants, bars, caterers, breweries, taprooms, and tasting rooms. The RRF will be administered by the U.S. Small Business Administration (SBA). Senate Majority Leader Chuck Schumer held a press conference with members of the Independent Restaurant Coalition and high-profile restaurant owners on March 10, in which the Democratic senator from New York stated he will “urge the SBA to stand up for relief and set up the program as soon as the bill is signed into law,” and that first they have to confirm President Biden’s nominee for Deputy Administrator of the SBA, Dilawar Syed. Read more…