Congress recently passed the CARES act to provide emergency relief for Americans affected by the coronavirus pandemic. The bill is the largest rescue package in US history, and addresses the economic fallout from the coronavirus pandemic by offering direct payment to most Americans and special financing for businesses large and small. The legislation provides a variety of grants, emergency loans, unsecured lines of credit, and other forms of relief for businesses and nonprofits of all sizes. The package is structured in such a way to stabilize businesses and communities, and to provide incentives that will retain worker jobs. The CARES act also provides $10 billion in funding toward maintaining airport operations, $5 billion in community development block grants, and an additional $1.5 billion for communities, which will be awarded based on criteria including losses sustained due to the pandemic.
Courtesy of U.S. Travel
INFORMATION AND RESOURCES ON THE CARES ACT
|Federal||U.S. Small Business Administration (SBA)|
|Travel Industry||U.S. Travel Association (USTA)|
|State||Small Business Supplier Diversity (SBSD)|
|Tourism Industry||Virginia Restaurant Lodging Travel Association (VRLTA)|
|Tourism Industry||Southeast Tourism Society (STS)|