The National Restaurant Association this week sent results from a new survey to Congress, warning provisions of the Build Back Better Act could harm the rebuilding restaurant industry. Sean Kennedy of the National Restaurant Association says, while they support parts of the Build Back Better Act, “the legislation is too large and too expensive” for small businesses to take on.
The national survey of restaurant operators indicated that deteriorating business conditions are impacting operators’ outlook, who believe the recovery from the pandemic will be prolonged well into 2022. Further, costs are up as 81 percent of operators report paying more for food, and others report higher labor and occupancy costs, while 85 percent report smaller profit margins than before the pandemic.
The association opposed several tax changes included in the Build Back Better Act, that significantly increase tax obligations on small business operators. The association also urged Congress to replenish the Restaurant Revitalization Fund.