A bipartisan group of lawmakers has started exploring another round of coronavirus relief funding for small businesses as a surge of the highly contagious omicron variant threatens to unleash more economic havoc.
relief funding for small businesses as a surge of the highly contagious omicron variant threatens to unleash more economic havoc.
Sens. Ben Cardin, D-Md., and Roger Wicker, R-Miss., have spearheaded an effort to provide small businesses with additional federal aid, a person familiar with the matter told FOX Business. The news was first reported by The Washington Post.
Any spending plan faces an uphill battle in the narrowly divided Senate, where Republicans previously sank efforts to provide small businesses with additional aid over concerns about the nation's deficit. But the talks underscore growing unease on Capitol Hill over a stunning rise in cases driven by the highly transmissible omicron variant. The U.S. is now reporting a seven-day moving average of more than 122,000 cases.
Only about one-third of restaurants that applied for relief through the fund received a grant, and the Independent Restaurant Coalition, a trade group formed during the pandemic, estimates that nearly 80% of restaurants could close this winter without additional aid.
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