Restaurant Revitalization Tax Credit Act is reintroduced in the US Senate

In essence, the new/old piece of legislation described below (its original iteration first appeared in 2021), would establish a tax credit as compensation for restaurants that did not receive Restaurant Revitalization Fund grants. RFF grants were the most visible component of the federal Covid-19 relief program.

Interestingly, yesterday President Joe Biden announced a final extension of Covid-19 national and public health emergencies to May 11, after which the emergency responses will be wound down.

Our musical accompaniment to today’s news item is a Civil War song by Benedict E. Roefs, “Mother, Is the Battle Over?” I’m reminded that while our Civil War had an end date in terms of combat, the repercussions were felt for a century or more.

Thousands of restaurants missed out on Covid relief funds. A new bill would give them a lifeline, by Andy Medici (Louisville Business First)

Lawmakers are aiming to provide restaurants locked out of the Restaurant Revitalization Fund with a special tax credit.

Senators Ben Cardin, D-Md., chair of the Senate Committee on Small Business, Sherrod Brown, D-Ohio, and Patty Murray, D-Wash., reintroduced...Read more