Colorado United States Senator Michael Bennet will join The Lumineers’ Wesley Schultz and Jeremiah Fraites, along with Z2 Entertainment’s David Weingarden and Cheryl Liguori in Boulder today to discuss how his proposed bipartisan RESTART Act could assist independently-owned music venues as cancellations continue through the end of the year. Bennet and his RESTART Act co-author, Indiana U.S. Senator Todd Young, are seeking to get the RESTART Act included in the next COVID-19 relief package, which is being developed by Congress beginning on July 20. The conversation between Bennet, Lumineers, and Z2 personnel will take place at 4:15 MT at the Boulder Theater and aim to raise awareness for the proposed relief act.
The RESTART Act was introduced in May to help the hardest-hit businesses across the country cover their fixed costs through the end of the year. Nearly 90% of independently-owned venues across the country could close and an estimated $9B in total revenue could be lost if they remain closed through the end of 2020.
The RESTART Act would provide loans with favorable repayment terms to help small businesses survive through 2020 and 2021, with a portion of that loan subject to repayment forgiveness based on how much the beneficiaries’ respective revenues have declined. The RESTART Act will also provide relief with tax credits and continued unemployment insurance benefits. While the world navigates through helping its arts and entertainment industries, countries like the United Kingdom and Germany, and the state of Oregon, have already passed legislation to assist the live events industry.
Today, Thursday, July 16th, Bennet and Young are encouraging music fans to participate in the #RESTART Social Media Day Of Action to increase support for the proposed RESTART Act. Fans are encouraged to use #RESTART on social media to spread the word about the proposed legislation, call Congress to pass the #RESTART Act, and tag @SenatorBennet and @SenToddYoung on Twitter calling for the passing of the legislation.
Z2 Entertainment, which operates the Boulder Theater, the Fox Theatre, and Aggie Theatre, has also launched Recovery Funds to help weather the financial storm the global pandemic has brought to the venues. Since widespread concert cancellations began in March, Z2 Entertainment has been unable to accrue any income but has continued to honor refunds for canceled and postponed shows. The venues are offering “Thank You” packages for various different contribution levels, including seat naming, free drinks and food, premier seating, annual passes, and more.
Contribute to the Boulder Theater Recovery Fund here, the Fox Theatre Recovery Fund here, and the Aggie Theatre Recovery Fund here. For more information on the RESTART Act, visit the summary of the bill here.