The Senate Has Voted: Restaurant And Bar Relief Is A Priority 

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The Senate Has Voted: Restaurant And Bar Relief Is A Priority 
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90 Senators Signal Support for Targeted Restaurant Relief Program in Budget Amendment Vote

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Q4 2020 hedge fund letters, conferences and more

The Relief Will Save Restaurants And Bars

WASHINGTON, D.C. -- Today, the Independent Restaurant Coalition (IRC) released the following statement on the Senate's passage of Senator Roger Wicker (R-MS) and Krysten Sinema (D-AZ) amendment to the budget calling for the creation of a dedicated restaurant relief fund. The proposal passed with an overwhelming bipartisan vote of 90-10.

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"The Senate made it clear today: it's time to save restaurants and bars," said Erika Polmar, Executive Director of the IRC. "There is undeniable bipartisan support across the country for a dedicated restaurant relief fund. The Senate knows that the only way we can fully recover our economy is to ensure neighborhood restaurants and bars can survive and continue employing over 11 million people. We are grateful to Majority Leader Schumer and Sens. Wicker and Sinema for standing with us and tirelessly advocating for our industry. There is more work to be done to make relief a reality, but today’s vote proves that our voices are being heard.”

Since the outset of the pandemic, restaurants and bars have lost over 2.4 million employees as ongoing restrictions and public apprehension have driven down business. This has disproportionately affected America’s 500,000 independent restaurants and the 11 million workers they directly employ. The Independent Restaurant Coalition has advocated for a relief fund since its founding at the outset of the pandemic.

Visit www.saverestaurants.com for the latest information on dining restrictions and closures.


About The IRC:

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. The Coalition’s leadership team includes Tyler Akin, José Andrés, Kevin Boehm, Sean Brock, Katie Button, Andrew Carmellini, Ashley Christensen, Jeanie Chunn, Amanda Cohen, Tom Colicchio, Nina Compton, Rosa Garcia, Suzanne Goin, Gregory Gourdet, Will Guidara, Mason Hereford, Sam Kass, Max Katzenberg, Mike Lata, Camilla Marcus, Ivy Mix, Kwame Onwuachi, Patrick Phelan, Erika Polmar, Naomi Pomeroy, Niki Russ Federman, Steven Satterfield, Michael Shemtov, Nancy Silverton, Frank Stitt, Bobby Stuckey, Robert St. John, Caroline Styne, Jill Tyler, and Andrew Zimmern. 

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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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