President Trump announced on Sunday that he directed his administration to analyze incentives to keep restaurants and bars open amid the coronavirus pandemic.
Trump noted that he had spoken with restaurateur Wolfgang Puck to discuss methods of helping restaurants and bars on the verge of closing because of the decline in business following the coronavirus outbreak. During a press conference on Sunday, Trump said his administration will be providing incentives for restaurants to stay open.
“The restaurant business has been probably one of the hardest-hit industries. I have directed my staff to use any and all authority available to give restaurants, bars, clubs, incentives to stay open,” Trump said. “You are going to lose all these restaurants, and they are not going to make it back, or they have to get going.”
Trump said he would like to reinstate some tax deductions for restaurants and corporations that could stimulate more business and encourage restaurants to keep their doors open.
“We’re going to go to deductibility so that companies can send people to restaurants. I think it will have a tremendous impact and maybe keep them open. Don’t forget, some are closing right now despite the fact they could be open in the not-too-distant future. We expect that, but there are some that aren’t gonna be able to get open, and we want to make sure they do.”
He added, “So we’re going to look at the restoration of the restoring of the deductibility of meals and entertainment costs of corporations so that corporations can send people to restaurants and take a deduction on it like they did in the old days. That was when restaurants were doing really well.”
