Good Lifestyle

The National Restaurant Association warned that the restaurant industry will suffer from 5 to 7 million jobs lost as a result of the coronavirus pandemic. In aLetter addressed to President Donald Trump, Executive Vice President Sean Kennedy presented the Warning Wanting, asking nearly $ 250 billion in federal aid to combat forcedBar closures, restaurants and short food.

Even the quieter and well-reasoned estimates of the economic effects of the global pandemic are disastrous. At a white home press conference on Wednesday, the Trump administration discussed an economic stimulus package of $ 1,000 billion to provide assistance to many industries affected byCOVID-19 [Feminine.

Although airlines, hospitality and virtually all other industries feel the harmful effects of what is indeed a national closure, the restaurant industry runs on margins thin razor and rests more on cash flows To stay open as many other companies.

Since the White House presented a 15-day guideline to contain thecoronavirus epidemic This advised restaurants and bars to close effectively, restaurant owners have been touched as hard as any small business owner.

"Economically, we anticipate sales to decline by $ 225 billion over the next three months, which will encourage the loss ofFive and seven million jobs"Kenney writes". The restaurant industry is one of the low margins, restricted cash flows and a workforce that depends on us for their livelihoods. Without aggressive and immediate action of the federal government, many restaurants that constitute a clip of local communities will never resume service. "

The restaurant industry claims to use just over 15 million individuals. So if their estimates are correct, it is a decline of 33 to 45% of employees. Kennedy produces to recommend the following normative actions of the federal government to save the restaurant industry:

Allow the Ministry of the Treasury to create a $ 145 billion dollar recovery fund of $ 145 billion.

• $ 35 billion for community development block subsidies for disaster assistance (CDBGDR)
• Assistance to enable companies to differ mortgage bonds, rental and loan agreements.
• 100 billion dollars of corporate interruption insurance supported by the federal government
• $ 45 billion of enlarged access to effective and affordable federal and conventional loans.
• $ 130 million in disaster unemployment assistance
• Federal loan program equal to loss of income
• Additional tax breaks to help restaurants and bars survive this economic downtime.

Bars and restaurants represents not only important cultural catches to gather and dinner, but they also use 15 million people. While almost half are unemployed, it means that up to seven million people will not have revenue either on other products.

They will probably not have all the aid requested, but they can certainly be forgiven to increase the alarm of how it will affect their industry and the largest economy.