House Passes HEROES Act, Uncertain Future In Senate
Yesterday, the House passed a Phase 4 response to the COVID-19 pandemic. The measure was approved by a vote of 208-199. Fourteen Democrats crossed party lines to vote against it and one Republican voted in favor. Republicans have made clear that it is "dead on arrival" in the GOP-controlled Senate.
Dubbed the HEROES Act, the measure has provisions that are very important to the restaurant industry (including our approach to improving the PPP program), and provisions that will be more challenging for restaurants (extension of enhanced unemployment, extension of emergency paid-sick leave/FMLA).
The IRA and National Restaurant Association are still pressing Treasury and SBA to make necessary changes to PPP rules to make the program work for restaurants.
Click here
to read a breakdown of the HEROES Act and the implications for restaurants.