The text for the stimulus bill was just released Monday, hours before Congress was scheduled to vote on it. The bill would allow restaurants applying for a PPP loan to use a new-and-improved formula. Despite the modifications to the Paycheck Protection Program, some argue the relief won’t be enough to save a restaurant industry that’s facing government shutdowns as coronavirus cases and hospitalizations spike during the winter. “We need the Restaurants Act, but equally important, we need something before the end of the year. We were not going to take it as the Restaurants Act or nothing.”The new stimulus “is going to help tens of thousands of restaurants survive winter, survive perhaps into spring,” he added.

Source: Washington Post December 21, 2020 22:18 UTC