Activist Demand Action From Senate On $120 Billion Restaurant Revitalization Fund

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Activist Demand Action From Senate On $120 Billion Restaurant Revitalization Fund
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TOMORROW AT 10 AM ET: Restaurant Owners Join Rep. Blumenauer to Urge Action From Senate on $120 Billion Restaurant Revitalization Fund Before Returning Home

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Press Dial-in: (833) 756-7475; Conference ID: 2635978

Activists Call On The Senate To Pass The $120 billion Restaurant Revitalization Fund

WASHINGTON, D.C. Tomorrow, October 2 at 10 a.m. ET, Independent Restaurant Coalition leaders Robert St. John, Caroline Styne, Bobby Stuckey, and Andrew Zimmern will call on the U.S. Senate to pass the HEROES Act, which provides for a $120 billion Restaurant Revitalization Fund for independent restaurants devastated by the COVID-19 pandemic. The bill is set to pass the House this evening. The fund for restaurants – provided in Division O Section 607 of the new HEROES Act – is based on the RESTAURANTS Act, a bipartisan bill that carries the support of over 200 members of the House and 40 members of the Senate. It has also received the support of over 215 small, supply chain businesses and was endorsed by a coalition of seven major corporations, including the Coca-Cola Company, Delta Air Lines, and American Express.

Restaurants and bars have been uniquely devastated by the pandemic – 1 in 6 restaurants have closed since the outset of the crisis and nearly 1 in 4 jobs lost during the pandemic have come from food and drinking establishments. As the colder weather sets in, restaurants are also expressing concern about bringing in revenue without having access to outdoor dining.

Briefing Call Details

WHO: Rep. Earl Blumenauer – Democratic Representative of Oregon’s 3rd District and co-author of the RESTAURANTS Act.

Robert St. John IRC co-founder and leadership team member, owner of Crescent City Grill, Mahogany Bar, Branch, Tabella, Ed’s Burger Joint, The Midtowner, and Midtown Donut in Hattiesburg, MS. He also owned The Purple Parrot Café, which recently closed after 32 years in operation. 

Caroline Styne IRC co-founder and leadership team member, James  Beard Foundation Award-winning owner of Lucques, A.O.C., Tavern, and Larder Baking Company and Hollywood Bowl Food & Wine, in Los Angeles, CA.

Bobby Stuckey IRC co-founder and leadership team member, Master Sommelier and James Beard Foundation Award-winning co-founder of Frasca Hospitality Group (Frasca Food and Wine, Pizzeria Locale Denver & Boulder, Sunday Vinyl, Tavernetta), Boulder, CO.

Andrew Zimmern IRC co-founder and leadership team member, James Beard Foundation Award-winner, host and executive producer of MSNBC’s What’s Eating America, and a partner in several restaurants in Minneapolis, MN.

WHAT: Rep. Earl Blumenauer and Independent Restaurant Coalition leadership call on the Senate to pass the HEROES Act to deliver vital relief to 500,000 independent restaurants and their 11 million workers.

WHEN: TOMORROW: Friday, October 2 at 10 a.m. ET 

WHERE: Press Dial-in: (833) 756-7475; Conference ID: 2635978

The Independent Restaurant Coalition was formed by chefs and independent restaurant owners across the country who have built a grassroots movement to secure vital protections for the nation’s 500,000 independent restaurants and the more than 11 million restaurant workers impacted by the coronavirus pandemic.

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver
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