Retailers and restaurants would see tax incentives and fresh cash in their customers' pockets under the U.S. Senate's $2 trillion coronavirus relief measure. But the bill doesn't go far enough to help companies facing plunging sales and foot traffic, experts said.

Multiple provisions of the Coronavirus Aid, Relief, and Economic Security, or CARES, Act, stand to benefit retailers, restaurants and other businesses hurt by social distancing, shelter-in-place orders and other steps meant to control the spread of coronavirus in the U.S. Under the Senate version passed March 25, retailers and other companies would receive tax breaks for keeping employees on staff while stores are closed as well as refunds for improvements to their stores or other properties. They would also potentially benefit from any spending spurred by payments to individual taxpayers of up to $1,200.

But those measures are unlikely to do much for retailers in the short-term as most consumers stay home and away from shopping in person, said Brian Yarbrough, an analyst at Edward Jones.

"I don't see a big boost to demand right now," he said in an interview, adding that any new e-commerce sales at most retailers are unlikely to make up for the steep declines in foot traffic at physical locations. Retailers have withdrawn guidance and reported steep declines in March sales in recent days. While some with large inventories of food and other essential products, such as Target Corp., have reported double-digit increases in comparable sales, others, such as department store Kohl's Corp., have shuttered their stores.

Payments to taxpayers and tax relief for retailers are likely to boost retail results and the broader economy once the virus is under control, Yarbrough said.

"You're going to see a lot of pent-up demand" if stores reopen in May, he said.

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The bill's benefits would also extend to the restaurant industry, one of the sectors hit hardest by social distancing measures and restrictions on business operations.

Small businesses with fewer than 500 employees could tap into a $349 billion pot of cash flow assistance meant to encourage companies to keep staff on payrolls. Certain restaurant businesses with no more than 500 employees per physical location also would be eligible for the 100%-federally guaranteed loans offered through the program, according to the National Restaurant Association. Borrowers would be eligible for different amounts of loan forgiveness.

Another provision would allow businesses to write off costs for improving facilities rather than having to depreciate the improvements over the 39-year life of the building, the trade group said. Such a change would address what the restaurant and retail industries have long viewed as an error included in the Tax Cuts and Job Act.

Starbucks Corp. declined to comment on whether it would take advantage of any of the bill's corporate benefits. McDonald's Corp. did not respond to a request for comment. The chains are among the largest U.S. restaurant companies and have closed dining rooms and expanded on employee benefits as the virus has spread throughout the country.

"This measure is an important first step to help restaurants weather the storm," Sean Kennedy, executive vice president of public affairs for the National Restaurant Association, said of the bill's passage. "There are challenges that remain before the restaurant industry, and we look forward to working with federal and state leaders to find solutions."

How well the stimulus helps the restaurant industry depends on the length and severity of restrictions that have forced many restaurants to offer only takeout or delivery services while others close, David Henkes, a senior principal at Technomic, a restaurant research and consulting company, said in an interview. He said the question remains what happens to companies who burn through their assistance and the crisis is still going.

"From a short-term perspective, the bill at least provides a bridge of support for restaurants," Henkes said. "But is it enough?"

Larger restaurant companies will likely also take every form of assistance they can to shore up their balance sheets, Abhinav Kapur, CEO of Bikky Inc., a customer retention platform for restaurants, said during a March 26 conference call about the pandemic's impact on the industry.

Parts of the beverage industry also cheered the bill for its temporary federal tax exemption for alcohol used for hand sanitizer.

To be eligible, the hand sanitizer has to be produced and distributed in a way consistent with U.S. Food and Drug Administration guidelines. Pernod Ricard USA LLC said March 18 that it would produce and donate hand sanitizer to help with the fight against the virus.

The Distilled Spirits Council of the United States praised the bill's passage but called on the FDA to update its guidelines to include hand sanitizer made with undenatured alcohol, the kind fit for human consumption used in beverages being used by some spirits makers. The trade group said it has been working with Congress and the Alcohol and Tobacco Tax and Trade Bureau on the issue.

"Hundreds of U.S. distillers are stepping up to produce hand sanitizer and they should not be hit with a huge tax bill for producing this much-needed item," Chris Swonger, president and CEO of the Distilled Spirits Council of the United States, said in a statement. "We now need FDA to recognize the same and update critical guidance for distillers to ensure the tax provision can be implemented."