The $ 900 billion Covid-19 relief package agreed to by U.S. Congressional leaders on Sunday includes a second round of larger paycheck protection program loans to small and medium-sized businesses, according to the American Hotel & Lodging Association , and $ 15 billion in payroll support for airlines, according to a Bloomberg report, citing sources.
The full text of the legislation has not been released at the time of publication. US House and Senate votes could take place as early as Monday, according to Reuters, who also quoted a White House spokesperson who indicated that President Donald Trump would sign the bill.
the Original Coronavirus Aid, Relief and Economic Security Act, spent in march, included billions of dollars in PPP loans and other aid to travel providers, including airlines, hotels, auto and ground transportation providers, and travel management companies, provided they maintain employees during the pandemic. Airlines that received federal aid under the Treasury Department’s Payroll Support Program were banned from firing employees until September 30, but have left tens of thousands since.
“The legislation contains many provisions advocated by the AHLA, including a second round of paycheck protection program loans, increasing the size of PPP loans to 3.5 times payroll, and tax deductibility of payrolls. PPP loan expenses, ”said AHLA President and CEO Chip Rogers. said in a statement. “This will provide an essential lifeline for hotels and other businesses that have been decimated by the pandemic.”
In a statement, US Travel Association president and CEO Roger Dow called the deal a “huge Christmas giveaway” that “would give many overdue businesses a bridge to 2021.”
“It will take more to restore the 4.5 million jobs lost in the travel and tourism industry, but the process that culminated in this deal is hopefully a positive sign for what it will be. possible to achieve at the next Congress, “according to Dow.