Trump Signs $484 Billion COVID-19 Relief Package

Man signing law
Photo by Worawee Meepian/iStock/Getty Images Plus/Getty Images

After passing a vote in the Senate earlier in the week, the U.S. House of Representatives passed a $484 billion COVID-19 (coronavirus) relief package, just weeks after the Trump Administration passed a $2 trillion stimulus package. President Donald Trump then signed the bill Friday afternoon, according to The Washington Post.

The bill, according to Politico, includes an additional $321 billion for the Paycheck Protection Program (PPP), which ran out of money last week. The package also provides another $60 billion to the Small Business Administration’s (SBA) Economic Injury Disaster Loan program, $75 billion in emergency relief for hospitals and $25 billion to ramp up coronavirus testing. It’s important to note, the new funding for the may already be spoken for, according to CNBC. The report says that, due to the volume of applications already send to the SBA, most—if not all of the new $321 billion—will go to those currently in the queue.

The relief package is the fourth such bill passed by Congress in less than two months, although this will likely only serve as an interim bill as Congress works on “CARES Act 2.”

FREE Virtual Event

Pivoting Back to Travel: Phase 4

Are you prepared to guide your clients through the “new normal” of travel? Join us December 15, 2020 from 1pm-2:20pm EST for Pivoting Back to Travel: Phase 4. The upcoming installment of our FREE virtual series will feature presentations from the Cayman Islands, Dominican Republic, and Seabourn on their most up-to-date travel procedures, health & safety protocols they’ve implemented to keep guests safe, activities that are open to visitors, what your clients need to know while on their trip and more! Visit www.pivotingbacktotravel to view the full agenda and register for your FREE pass.

After the framework for the bill was announced, Zane Kerby, president and CEO of the American Society of Travel Advisors (ASTA), said, “While these programs are far from perfect, they have provided financial relief to some of our members, and the additional funding will mean more relief for more travel agencies”

The next stimulus package is reportedly to focus on aid for state and local governments. The bill will likely not be moved until both the House and Senate return to Washington, D.C. on May 4.

Related Stories

WTTC Estimates Over 100 Million Travel & Tourism Jobs to Be Lost

Stats: Travelers to Push Off Travel for Several More Months

80-Plus House Members Support Relief for DMOs

Stats: Travelers More Optimistic, See Global Situation Improving

Suggested Articles:

World of Hyatt is making changes to its elite status qualifications for 2021 year by reducing the Base Point and Tier-Qualifying Night requirements.

Delta's COVID testing program will be available on flights from Atlanta to Rome starting December 19, 2020. Here's what you need to know.

Avoya Travel is set to kick off Part Two of its annual conference, December 1-4, with a newly added pre-conference event on Monday. Learn more here.