Skift Take
The $1.9 trillion American Rescue Plan is a massive life raft to many travel companies, but industry groups still want more targeted relief and stimulus to accelerate a full recovery that could be years away.
Congress passed a $1.9 trillion coronavirus relief measure Wednesday on a Democratic-led, party-line vote. U.S. President Joe Biden is expected to sign the bill into law Friday afternoon.
The measure, called the American Rescue Plan, is the sixth major relief bill to clear Washington, D.C., in the last year and brings the federal government’s spending tally to $5.5 trillion on pandemic relief — more than what the U.S. spent in World War II.
The American travel sector heralded some aspects of the bill, but it also sees a key area where the package falls short of expectations with companies not receiving targeted relief.
“The American Rescue Plan contains many good features, but there’s something crucial that Congress must accomplish to restore the millions of travel-dependent jobs lost to the pandemic: extend the Paycheck Protection Program deadline through at least June, and allow another draw on those funds for the hardest-hit employers," said U.S. Travel Association CEO Roger Dow in a statement.
The American Rescue Plan added $7.5 billion to PPP and enabled more nonprofits to apply. But it did not extend the federally backed small business loan program through the end of 2021 like many travel groups were lobbying for with members of Congress.
Hotels and other divisions of the travel industry rely on broader provisions within this and prior relief measures instead of industry-targeted funds.
This remains a sticking point with industry groups
