<script type=" text=""/>
Follow us
10 Street Name, City Name Country, Zip Code555-555-5555myemail@mailservice.com
Legislative Update: Restaurants & Other Industries May Receive Additional COVID Relief Through Proposed Legislation
This is a subtitle for your new post
Tuesday, April 5, 2022
There is a $55 billion relief package for restaurants, gyms, and other industries that is gathering steam in the House. The package would provide small-business pandemic aid with $42 billion allocated to restaurant relief and $13 billion for other “hard hit” industries. It is meant to backfill expired programs such as the Restaurant Revitalization Fund (RRF).
The Restaurant Revitalization Fund, established by the American Rescue Plan Act, provided funding to help restaurants and other eligible businesses impacted by COVID-19. Unfortunately, the $28.6 billion set aside for this program quickly ran out with only one-third of applied businesses receiving funding.
This new relief package is expected to provide grants to the other two-thirds of restaurants and other eligible businesses that originally applied for RRF. Although the bill does not reopen RRF to new applicants, it does provide an opportunity for those who were previously denied a chance to reapply.
The bill includes language that if there isn’t enough money to provide full grants to eligible businesses, funds would be reduced by an equal percentage, so all approved applicants receive funding. To receive the grant, eligible businesses must still be operating or reopen within 6 months of receiving the funding.
To ensure restaurants and other hard-hit businesses receive this much needed funding, please reach out to your House and Senate representatives with the following message:
“The House is preparing to vote on the Restaurant Relief bill. Many parts of our society, especially small businesses, were not included in past COVID relief, and with the arrival of Omicron in January and February, thousands of restaurants, gyms, and entertainment facilities who endured two years of COVID without government support, are now facing bankruptcy. We urge you to support these firms, who are struggling with conditions they did not create, by passing a one-time financial boost to keep them and their workers running.”
OnCentive is closely tracking legislation and will provide updates, when available.
Have Questions or Need More Information?
What Clients Say About OnCentive:
Don't just take it from us.
Morgan Akins, The Arc of Tuscaloosa
"The OnCentive team helped our non-profit raise hourly wages to attract and retain employees through a very difficult labor market. The services we provide our clients are critical to the community. Thanks to OnCentive we are able to remain competitive as an employer. Their team is great to work with and without a doubt will help you maximize the amount your organization can recover.”
Tawny DeBolt, Neon HCM
"OnCentive has delivered millions of dollars in credits to our clients. We had them take a look at our business and they found over $100k in cash refunds for our company. Their staff treats every one of our clients like they are their own and our clients and ecstatic we made the introduction."
Cliff Morgan, CFO Concrete Guys
"OnCentive has exceeded our expectations. We were skeptical on whether or not these programs would work for us but they absolutely made us believers. I would highly recommend them to any business looking to increase its profitability.”
Led by Tax Attorneys,
CPAs & Credit Experts
Our leadership has over 150 years of combined tax experience. With $3 billion in incentives captured, you are in good hands with OnCentive.
Quality Guaranteed
In the unlikely event that your credit is ever contested, the OnCentive team will defend our work and will fully refund any credits that are disallowed.
Maximum Credit Yield
Our profitability is tied with yours. We work off success fees which means we are motivated to find the maximum credits your business can qualify for.
