After the passing of the CARES Act, U.S. Travel Association has shared several helpful resources to help provide our community with answers and assistance. They hosted a Webinar earlier this week that helped guide their members through these resources so they are equipped to take advantage of the assistance available to them. The Webinar included detailed information about the CARES Act provisions including eligibility, and information on financial assistance. To view this Webinar and view additional resources, please visit ustravel.org and click Issues
HIGHLIGHTS OF THE CARES ACT INCLUDE: -$377 billion in loans and loan forgiveness for small travel businesses -$454 billion in federally backed financial assistance for impacted businesses - $454 billion through the Treasury Department and Federal Reserve to assist impacted travel businesses and governmental entities through secured loans, loan guarantees and other financial measures. -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