April 8th, 2022 by WCBC Radio
This week, Congressman David Trone (MD-06) voted to secure urgently needed relief for small businesses across Maryland. The Relief for Restaurants & Other Hard Hit Small Businesses Act will deliver $55 billion to replenish funding for Maryland restaurants and establish a new program supporting other small businesses impacted by the pandemic.
“Small businesses are the lifeblood of Maryland’s economy and are helping power our historic recovery,” said Congressman Trone. “In our American Rescue Plan, we created the Restaurant Revitalization Fund, which has been a lifeline for over 2,000 Maryland businesses, helping them pay their staff, feed their communities, and keep the lights on. This new funding will build on that success.”
Established through the American Rescue Plan, the Restaurant Revitalization Fund (RRF) has to date distributed $28.6 billion to restaurants across the country – including $561,874,247 for Maryland businesses. The Relief for Restaurants & Other Hard Hit Small Businesses Act would provide an additional $42 billion to replenish the RRF so that more restaurants can apply for this assistance.
This legislation would also provide relief to other struggling small businesses:
- Providing $13 billion to establish the Hard Hit Industries Award Program, which will assist Maryland small businesses with 200 or fewer employees that have experienced 40 percent or more in lost revenue.
- Updating the Shuttered Venue Operators Grant Program to provide Maryland entertainment venues with more time and flexibility to use federal relief funds.
.jpg)
