The evidence is clear: unless an economic and jobs recovery can be started for the hard-hit travel industry, there will be no recovery for the broader U.S. economy.
More than half of the 15.8 million pre-pandemic, travel-supported jobs in the U.S. (51%) disappeared between March and May 1, and the U.S. economy is on pace to lose more than $505 billion in travel spending this year. Workers and small businesses are the backbone of the travel economy, and they will be critical to the revival of Main Streets and local economies across America. But they cannot wait any longer for relief, nor can they wait until after the election.
Congress and the administration must immediately come together on a deal that provides relief, protection and stimulus to all sectors of the travel industry.
Our industry’s top legislative priorities to restore jobs and get America moving again:
- Provide long-term relief until recovery is possible, which includes expanding the PPP to include DMOs, extending the PPP to the end of the year and allowing a second draw on PPP, or other longer-term solutions such as long-term, low interest loans for the hardest-hit industries.
- Provide up to $10 billion in in federal grants to promote safe and healthy travel practices
- Provide limited, temporary and immediate safe harbor for businesses that follow proper health and safety guidelines
- Create temporary tax credits and deductions
- Develop a national strategy to expand COVID-19 testing by enacting the TEST Act
- Provide additional emergency assistance to U.S. airports
An economic revival will not happen on its own, and it will not happen without the small businesses that contribute so much to the American economy. Immediate, targeted and substantial relief will be needed to restore lost travel industry jobs and put our nation on the path to recovery.
Congress, we are calling on you to finish the good work you started and finalize a deal immediately. The travel industry—and the millions of Americans whose livelihoods depend on this industry—simply cannot afford to wait any longer.