U.S. Representative Jason Crow was among House members on Thursday who introduced legislation to allow craft breweries, wineries and distilleries to access the maximum amount of federal coronavirus aid for small businesses.
The Second Draw Paycheque Protection Program, which offers forgivable loans covering some of the business costs of borrowers during the COVID-19 pandemic, is providing aid of up to $ 2 million. In the last relief bill passed in December, Congress put $ 137 billion in the Second Draw program for businesses that have already received assistance.
The Fairness Act for Craft Beverage Producers corrects what Crow’s office described as “oversight” that made craft breweries ineligible for the maximum loan amount and also excluded them from an extended debt relief period, which the legislation would extend by five months . The American Craft Spirits Association, the Wine Institute, WineAmerica, and the Brewers Association support the bill.
“Our local breweries, distilleries and cider houses fuel tourism, employ thousands of Coloradans and help make our community a vibrant place,” said Crow. “The health and economic crisis caused by COVID-19 has put the future of these businesses at risk. By quickly correcting this oversight in the second round of PPP, we can help our artisan producers stay afloat and continue to be a vital part of our community.