Economic stimulus bill brings some relief but no cure for devastated businesses

SAN JOSE, Calif. - The deal is bringing some relief but certainly no cure for the economic pain many Americans are experiencing right now. A lot of businesses and individuals are hurting with the unemployment rate at 8.2% in the state.

At SP2 in downtown San Jose, the restaurant is shuttered for now, too slow to open for takeout. Owner Eric Nielsen called the federal relief bill tough to digest.

"It’s a little bit late and a little bit short of what we had hoped for our employees and team members, but at this point in time we will take what we can get," said Nielsen.

Nielsen wonders how much relief is the $900 billion plan is providing. While unemployment benefits have been extended, stimulus checks have been slimmed down to $600.

"When you live in Santa Clara Valley, that doesn’t even help you get close to paying rent for one month," said Nielsen.

He questions if the second round of paycheck protection payment loans will help businesses much now that indoor and outdoor dining has stopped. Restaurants don't have many employees.

"I have so many friends that have restaurants and bars they are beyond hurt," said Nielsen. "I have friends who have lost their businesses already and it's not getting any better."

Sushi Confidential is one of the few places still open in downtown San Jose for to go orders.

"This shutdown is hurting us a lot more than it did in March," said Sushi Confidential Owner Randy Musterer.

Musterer said the stimulus check isn’t really a stimulus check, likely used to pay off debt.

"It’s going to help them $600 somewhere but not sure if it will go directly back into the economy," said Musterer.

"For me $600 is better than nothing," said Subodh Sherma of Sunnyvale.

Others said the deal is something.

There’s $45 billion in aid for transportation needs. The Bay Area Metropolitan Transportation Commission estimates $800 million will help Bay Area transit.

"It’s maintained our level of public transit service we have right now and it’s maintained employment," said Spokesman Randy Rentschler.

At SP2, the owner hopes it won't take months again for more relief to come.

"We really needed some federal and local leadership to step up," said Nielsen. "They are too busy being right versus left instead of worrying about everybody else."

Many lawmakers agree this deal is not enough. It’s a third of the size of the first Coronavirus relief package passed back in March. The hope is a new relief package in the new Administration with offer much more aid.