Food & Beverage

Restaurant industry considered one of winners of American Rescue Plan en route to House

The American Rescue Plan is on its way to the U.S. House for expected passage before heading to the president's desk for signing into law and restaurants stand to benefit from the measure in numerous ways.

Photo: iStock.

March 8, 2021

The $1.9 trillion American Rescue Plan passed by the Senate this weekend now heads for the House, according to the congressional record. The measure is expected to also pass the House, before heading to President Biden's desk. The House vote is expected to occur March 10.

The restaurant industry is being called one of the big winners of the plan, which boosted funding for foodservice through the Restaurant Revitalization Fund. The National Restaurant Association was one of the first organization's to applaud the Senate move this weekend.

"The Senate passage of the American Rescue Plan means we have turned the corner and can see the finish line," Sean Kennedy, NRA executive vice president of public affairs, said in a prepared statement. "We appreciate leadership's continued support of the Restaurant Revitalization Fund and the other programs in this bill that will support restaurants across the industry to put us on the road to recovery. We also appreciate the Senate's action in increasing the size of the Restaurant Revitalization Fund to $28.6 billion. We look forward to prompt consideration of the American Rescue Plan in the House."

The latest version of the bill no longer contains the federal minimum wage increase to $15 that both the NRA and Republicans fought, but it does expand a tax credit for businesses that keep workers on the payroll.

The bill will also provide one-time $1,400 direct payments to individuals making $75,000 or less, $300 a week through the summer for the unemployed, support for vaccine distribution and funds for schools, cities, states and small businesses.