DENVER (KDVR) — If you’re struggling to keep track of the latest on the proposed stimulus package in Washington, you’re not alone.
“There’s a lot of political posturing going on right now,” said Ash’Kara Restaurant owner Juan Padro, when asked about Senate Majority Leader Mitch McConnell’s comments about the stimulus package likely not passing before Election Day.
“A couple hours later, the president came up and upped the $1.6 to $1.8 trillion — which is closer to the $2.2 trillion that Nancy Pelosi and Democrats have been asking for,” he said.
Conflicting interviews and tweets have left the service industry wondering when they’ll get more financial relief, and if it will come in time.
“A lot can happen and a lot can crumble in a month. Restaurants are struggling,” said longtime hospitality worker Lindsay Wiener.
“To think we have to endure at least another month without support of the government — it’s scary. There are many that won’t survive this month,” she added.
Part of the stimulus package, as it is written now, would offer another round of Paycheck Protection Program (PPP) money to small businesses, as well as employee tax credits.
About $120 billion would be designated for independent restaurants and bars with less than 20 locations.
“The PPP really helped us out a lot. We used it all for payroll and we stretched it out. It allowed us to create some cushion from the summer,” said Padro.
Many hospitality staff expected another stimulus package to have already passed by the time summer ended.
“It’s daunting, to say the least,” said Wiener, adding, “The Colorado Restaurant Association estimated nearly 500 restaurants have closed as a result of the pandemic. And there are many, many more that are on the brink.”
Those that do survive the colder months have other long-term concerns they hope politicians will start trying to address now.
“We need good debt structure,” said Padro. “Everyone is talking about grants and things like that. We need access to capital for our women and minority-owned businesses. And then we need good debt terms.”
Enhanced unemployment pay is also still up for debate.
Democrats want $600 on top of the state’s weekly benefits, while Republicans are proposing $300.