How much relief is enough?

On March 26, President Trump signed the CARES Act stimulus legislation into law. The law provides support for restaurant and foodservice owners and workers in the form of payroll incentives, employee benefits, emergency grants and tax relief. (The National Restaurant Association provided a summary of the CARES Act’s benefits to the industry.  https://restaurant.org/Articles/News/CARES-Act-provisions-whats-in-it-for-restaurants ) But will the benefits go far enough? Chef Tom Colicchio says no – particularly in the case of independent restaurants. Colicchio is founder of Crafted Hospitality and a visible member of the Independent Restaurant Coalition (IRC), a newly formed group that is aiming to help save local restaurants impacted by COVID-19. The CARES Act’s Paycheck Protection Program, a key part of the new law, lets owners of restaurants with fewer than 500 employees apply for a loan of up to $10 million or two and a half months of payroll, whichever is less – and Colicchio said in an interview with Forbes that he thinks it is unlikely the industry will be back on track in that time frame. He is now working with the IRC to advocate for a six-month income replacement program worth $440 billion. Restaurants of any size could benefit on the condition that they continue to fully employ all restaurant staff, as well as pay rent and suppliers to keep money moving through the supply chain. The coalition is aiming to build a strong, united voice that can address lawmakers about what support the restaurant industry needs right now. In addition to providing daily legislative updates, it provides people on its mailing list with a social media toolkit, calls to action that can help operators mobilize their communities and networks, and key messages to use when speaking to the media to help get the word out about what independent restaurants need right now.