Morelle proposes one-over-hit bill to get money for restaurant relief fund, vote on Thursday
But today there is a new life and a different way to get money.
Representative Morelle was called up to the House floor to present the bill.
Here are some historical points:
- The Restaurant Revitalization Fund was part of the US bailout.
- He got $28 billion.
- It sold out in three weeks.
Over the past year, I’ve told you stories about local restaurants that got approved for cash but never saw a dollar. Total restaurant claims last year topped $72 billion.
This plan replenishes the fund with $42 billion and uses the money recovered from fraudulent PPP loans.
Morelle told Congress that 178,000 restaurants applied and qualified for the money but never got it because the fund ran out.
“Let me say it again: 178,000 restaurants, many of which are at risk of permanent closure if Congress does not provide them with the relief they need,” Morelle told Congress. “This bill would use funds that were unclaimed, recovered, seized or returned to the federal government by bad actors attempting to defraud previous recovery programs.”
Morelle said the federal Small Business Administration has identified $78 billion in fraudulent loans and grants for COVID relief.
We have been following this bill for months.
A vote is scheduled for Thursday.