Congress proposes additional $13 billion for hard hit small businesses

Apr. 01, 2022

The Relief for Restaurants and other Hard Hit Small Businesses Act of 2022 — an amendment to H.R.3807 — could help the thousands of small businesses still struggling with the impact of the coronavirus (COVID-19) pandemic. The amended bill, sponsored by Rep. Nydia Velazquez (D-N.Y.), who serves as chairwoman of the Committee on Small Business was released today. It is expected to be on the floor of the U.S. House of Representatives during the week of April 4th.

The legislation provides at least $13 billion for a new Hard Hit Industries Award Program, which will provide awards to small businesses across all industries and sectors that were the hardest hit by the pandemic. Hard hit small businesses would include event rental businesses that have suffered significant losses during the pandemic.

“This is an enormous win for those in the event rental industry. The American Rental Association (ARA) and its partners in the Economic Bridge Coalition (EBC) have been working for more than a year to get additional support for those hit hardest by the pandemic. Those struggling the most will be first to receive this much needed funding,” says John McClelland, ARA’s vice president for government affairs and chief economist.

“On behalf of ARA, I would like to thank Rep. Velazquez for her support in helping small businesses and understanding that there is still a great need for additional funding,” McClelland adds.

Click here to read full details on the Relief for Restaurants and other Hard Hit Small Businesses Act of 2022.

Continue following Rental Pulse for updates and instructions on how to contact your members of Congress to urge their support of this legislation.

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