Restaurants generate some $880 Billion per year in revenue in the US and 90% of that revenue gets paid out directly to restaurant employees, suppliers, and for rent. The economic activity generated by restaurants account for 4% of the nation’s GDP. As the Us’s second-biggest employer, after government, the restaurant industry is a cornerstone of the economy. However, unlike other ‘too big to fail’ industries, there is no effective lobby at the federal level.
The group is petitioning the US Congress for a bailout, that would save restaurants, the jobs and the communities they support. The letter is requesting signatures, currently with 10,000 and calls for action in the following ways:
To fix the Flaws Within the Paycheck Protection Program
To create a Restaurant Stabilization Fund
To create New Tax Rebates for Independent Restaurants to Survive Post-Crisis
To require Business Interruption Insurance to Cover COVID-19
As Scotland's restaurants prepare to reopen with restrictions, the country's foremost chef, Tom Kitchin, says 'enough is enough' and demands that restaurants be allowed to open fully. Here's the full story.