The CARES Act Is a Great Step, But Much Work Remains

After several days of negotiations between lawmakers and tireless advocacy by our industry, the CARES Act, Phase III of the coronavirus emergency relief package, passed the U.S. Senate Wednesday evening.

U.S. Travel sounded the alarm that nearly six million travel jobs will disappear before May. With this deal, millions of Americans’ livelihoods will be sustained in the near term of this difficult time.

The situation we’re facing is unprecedented, and it required unprecedented action. The bill includes many priorities for which our industry strongly advocated, and we applaud our elected leaders for recognizing the urgent needs of travel employers and its workforce. 

Some of the provisions:

• $377 billion in loans and loan forgiveness for small travel businesses
• $454 billion in federally backed financial assistance for impacted businesses
• Tax relief to mitigate losses and allow businesses to use cash to pay employees and keep the lights on
• Grants for impacted tourism businesses and airports

We know many of U.S. Travel’s members have questions about the plan's details, eligibility guidelines and how to access assistance. We are working closely with Congress and the administration and urging them to quickly determine the procedure, and we will share this information as soon as it is available at ustravel.org/ReliefResources.

The passage of the CARES Act is a victory that not only provides great relief to those who desperately need it, but proved once again that our industry’s strong, collective voice has the power to achieve results in Washington on behalf of our workforce.

But the work is not done.

These are challenging times, and the economic hardships I know you are all feeling won’t be fully erased with the stroke of a pen. This is why it is important for our industry to band together and continue to make our voice heard as Congress looks toward a Phase IV legislative package. We will continue to press for much-needed relief for the 15.8 million jobs America’s travel industry supports.

Please click here to read more about the CARES Act.