WASHINGTON, DC – Rep. Dean Phillips (D-MN) has helped introduce a bipartisan bill, the Restaurant Recovery Fairness Act, co-led by his Republican counterpart on the Small Business Committee’s Oversight, Investigations, and Regulations Subcommittee ranking member Beth Van Duyne (R-TX).
The Restaurant Recovery Fairness Act will add a vital oversight component to the Small Business Administration’s (SBA) $28.6 billion Restaurant Revitalization Fund. American restaurants have submitted requests for over $69 billion in funding, making this oversight crucial to ensure that only proper recipients receive funds.
This morning at a Small Business Committee hearing, Rep. Phillips questioned Isabella Casillas Guzman, the new administrator of the U.S. Small Business Administration, on the viability and oversight of the Restaurant Revitalization Fund, the Paycheck Protection Program, and other aid programs related to the COVID-19 pandemic.
“Since the beginning of the pandemic, we have injected an unprecedented amount of taxpayer money into our economy to protect jobs and keep businesses afloat,” said Rep. Dean Phillips. “We cannot allow fraud and abuse to sabotage that effort – we need proper oversight to prevent corruption and ensure that our resources are going where they are needed most. By providing oversight and transparency to the critical Restaurant Revitalization Fund, this bipartisan bill would be a victory for small businesses and accelerate our recovery from this once-in-a-generation crisis.”
“Restaurant Recovery funds are currently vulnerable to fraud and abuse, keeping deserving businesses from getting the help they need to support their hard working employees and stay afloat,” said Rep. Van Duyne. “It is important the program has the necessary oversight to ensure funds are faithfully distributed to the restaurants that serve as the center of our communities.”
The text of the bill can be found here.