House releases details about proposed $25B restaurants grant fund

Both the Independent Restaurant Coalition and the National Restaurant Association have expressed their support of the budget's proposed $25 billion restaurant grant program. 

"By proposing a grant program for the industry, Congress is doing everything they can to ensure independent restaurants and bars can continue to employ 11 million people," IRC said in an emailed statement. "Funding an independent restaurant revitalization fund would be a ray of hope for so many neighborhood businesses that are on life support this winter."

This line item reflects Biden's support for providing grants rather than loans for restaurants. During an economic roundtable in December, he said that the restaurant industry "affects the ability of the economy to continue to grow."

There are multiple pieces of legislation geared toward restaurant industry support, and broader small business support, that are still up in the air. Industry organizations have made clear, however, that restaurants need targeted aid to survive as the pandemic stretches on. The restaurant segment was predicted to provide 12.3 million jobs in 2020 but ended last year with 9.8 million jobs — 2.5 million fewer jobs than pre-pandemic levels, according to the NRA. 

"We look forward to seeing the full proposal from congressional leaders and appreciate that our industry remains in the forefront of discussion," NRA said about the budget proposal in an emailed statement.