Without bold and expeditious federal relief, the retail real estate industry is at risk, ICSC president and CEO Tom McGee writes in his latest column for Forbes. Stores will close permanently, businesses will falter and the economy will suffer, he says.

ICSC and more than 100 other industry and business organizations, has formed the America’s Recovery Fund Coalition to advocate for additional government support beyond the Coronavirus Aid, Relief, and Economic Security Act. “For businesses whose operations were impaired by a COVID-19-related closure, a recovery fund could help businesses retain and rehire employees, maintain worker benefits, and resume or continue economic activity,” he wrote. “The Recovery Fund, which would provide the debt-free capital needed to best position businesses of all sizes and in all industries for revival and employment growth, would not pick winners and losers and would include strong anti-abuse provisions to ensure appropriate use.”

Read McGee’s full column here.