Mark S. Allen, President and CEO of the International Foodservice Distributors Association (IFDA), sent a letter to Congressional leaders on Tuesday urging new stimulus for the foodservice industry. In the letter, addressed to House Speaker Nancy Pelosi, House Minority Leader Kevin McCarthy, Senate Minority Leader Chuck Schumer, and Senate Majority Leader Mitch McConnell, Allen wrote:
“When the crisis began in mid-March, Congress acted quickly through the CARES Act to create the Paycheck Protection Program (PPP) and provide small businesses with critical support to help them remain in business. Unfortunately, that program has expired and Congress has failed to pass any additional aid in the more than eight months since the CARES Act. The foodservice industry needs help now and Congress must act to reauthorize the PPP program and permit second draw loans to businesses facing at least a 25% loss in revenue.”
The following recommendations were also made:
- Include payments for inventory, raw materials and supplies as allowable and forgivable uses of PPP funds.
- Provide liability protection for companies that have complied with federal, state and local health laws.
- Permit PPP borrowers to continue to deduct ordinary and necessary expenses.
