$60 Billion Proposal To Boost American Rescue Plan’s Restaurant Revitalization Fund

Jun 24, 2021

Credit U.S. Senator Martin Heinrich (D-NM)

  Commentary: Due to record applications for the Restaurant Revitalization Fund, U.S. Senator Martin Heinrich (D-N.M.) cosponsored bipartisan legislation to boost the fund with an additional $60 billion to help New Mexico restaurants and other eligible businesses keep their doors open. Senator Heinrich helped establish the $28.6 billion fund as part of the American Rescue Plan.

“As New Mexicans, we know the value of good food and good company—it’s why our local restaurants are such anchors in our community,” said Heinrich. “That’s why I’m dedicated to securing additional relief so that our smallest, locally-owned food trucks, bars, and restaurants keep their doors open and their employees on payroll.”

As part of the American Rescue Plan’s Restaurant Revitalization Fund, restaurants do not need to pay back their grants and can use the funding for payroll, benefits, mortgages, rent, utilities, maintenance, supplies, protective equipment, cleaning materials, food, paid sick leave, and any other expenses deemed essential.

The Restaurant Revitalization Fund Replenishment Act of 2021 is led by U.S. Senators Kyrsten Sinema (D-Ariz.) and Roger Wicker (R-Miss.) in the Senate. U.S. Representatives Earl Blumenauer (D-Ore.) and Brian Fitzpatrick (R-Pa.) are leading the companion in the U.S. House of Representatives.

The legislation has received the support of the New Mexico Restaurant Association.

“Restaurants were blessed to have money carved out just for the losses suffered by the industry in the American Rescue Plan. However, the demand still exists to help those that were unable to secure assistance. The New Mexico Restaurant Association supports Senator Heinrich’s efforts to replenish this fund that would give New Mexico restaurants hope for the future and an incentive to rebuild soon,” said Carol Wight, CEO of the New Mexico Restaurant Association.