Travel Industry Applauds Biden’s Proposed $1.9 Trillion Stimulus

The U.S. Travel Association is praising President-elect Joe Biden’s proposed $1.9 trillion COVID-19 relief plan.

The stimulus package proposed on Thursday calls for investing $20 billion in a national vaccination program and allocating $15 billion to develop a new grant program for small business owners separate from the existing Paycheck Protection Program.

The proposal also calls for a $35 billion investment in some state, local, tribal and non-profit financing programs that offer low-interest loans and provide venture capital to entrepreneurs.

“Accelerating the distribution of vaccines is the key to getting travel back to normal, and we applaud President-elect Biden’s emphasis on a robust federal leadership role to get as many people vaccinated as quickly as possible,” U.S. Travel President and CEO Roger Dow said in a statement issued Thursday. “Further, we are encouraged by the measures to provide additional grants and loans to small businesses in the hardest-hit industries, which include travel. The Paycheck Protection Program is set to expire in March, but the economic hardships of the pandemic will persist, so it is important that struggling businesses continue to receive aid to maintain operations and keep workers on payrolls.”

Dow went on to acknowledge that restoring travel will be paramount to the economy’s recovery.

“Prior to the pandemic, travel jobs existed in every congressional district. Travel will play a vital role in America’s economic recovery in the months ahead, but businesses will need this lifeline to survive until regular travel can fully resume,” he added.

“We are grateful to President-elect Biden for his focus on combating the virus and providing relief to America’s hard-hit industries, and we look forward to working with the new administration on additional recovery and stimulus measures.”

The American Society of Travel Advisors (ASTA) also expressed its support for Biden’s relief proposal.

“We welcome and wholeheartedly support the provisions of President-elect Biden’s COVID-19 relief proposal that will help spur the travel industry’s recovery and provide support to ASTA members, employees and independent contractors,” Eben Peck, ASTA EVP Advocacy, said in a statement. “These include an ambitious national vaccination program, an extension of the CARES Act’s unemployment programs through September and targeted grants to small businesses hit hardest by COVID.”

“That said, this is just the beginning of the process and we are working with allies in Congress to build on these proposals and provide additional support for our members, including targeted funding for travel businesses and new long-term loan programs for hard-hit businesses along the lines of last year’s RESTART Act.”

This post was published by our news partner: TravelPulse.com | Article Source