| COVID RELIEF NEGOTIATIONS Over the weekend, the U.S. House of Representatives passed the American Rescue Plan Act of 2021. We anticipate that the U.S. Senate will consider the bill early next week and the legislation will ultimately be finalized by mid-March. The $1.9 trillion package includes several provisions that will help the travel industry, however several critical recovery and stimulus measures for our industry are very much needed and are not included in this package. We are working closely with travel champions in Congress on several provisions to advance in the short term, which will also drive our advocacy agenda during Destination Capitol Hill: Extend the March 31 application deadline for the PPP and provide a third draw loan for the hardest hit industries. Pass the Hospitality and Commerce Job Recovery Act to accelerate rehiring and drive demand to travel through temporary tax credits. Ensure that Brand USA funding can help drive international inbound recovery when the borders reopen. STIMULUS TO DRIVE TRAVEL DEMAND A bipartisan group in Congress—led by Senators Cortez Masto (D-NV) and Cramer (R-ND), and Representatives Horsford (D-NV), LaHood (R-IL), Rice (R-SC) and Panetta (D-CA)—reintroduced the Hospitality and Commerce Job Recovery Act of 2021. U.S. Travel has aggressively advocated for this legislation since last year, knowing at the right time it could help revive some of the hardest-hit segments of our industry. Included in the bill: A temporary business tax credit to revitalize business meetings, conferences and other structured events. Restoration of the entertainment business expense deduction temporarily to help entertainment venues and performing arts centers recover. An individual tax credit to stimulate nonbusiness travel. Tax relief for restaurants and food and beverage companies to help restore food service jobs and strengthen the entire American food supply chain. Our efforts began last year as we worked closely with our congressional champions to develop the majority of the bill and have continued this year to ensure a swift reintroduction in time for consideration for the next economic recovery package. Destination Capitol Hill On Wednesday, March 17, we will be advancing our priorities and legislative asks at Destination Capitol Hill, our annual legislative fly-in. Nearly 400 industry colleagues will push travel’s next chapter forward through direct conversations with lawmakers in Congress. Thank you to those who are registered to attend. Next week, you will receive briefing materials with talking points and more details on what to expect during the event. COVID-19 TRAVEL INDUSTRY RELIEF RESOURCES U.S. Travel has a new fact sheet available that provides more details about the Coronavirus Relief Fund (CRF). CRF Funds have already been allocated to states, territories, tribal, and local governments. As requested by U.S. Travel, funds can be used to help the tourism industry through the following means: Grants to small businesses to reimburse them for the cost of shutdown orders related to the pandemic. Grants to destination marketing organizations to market the state or local government’s convention facilities and tourism industry. CRF FACT SHEET Reminder: The Small Business Administration (SBA) is currently not reviewing or accepting applications from businesses with more than 20 employees. Starting March 9 at 5:00 p.m. ET, all qualified businesses will once again be able to submit their applications. The program is set to expire at the end of March and approximately half of the funds allocated are still available. We highly encourage you to take advantage of the PPP, including the opportunity to apply for a Second Draw loan. Our Travel Industry Relief Resources webpage continues to house the latest information, details and useful links to make sure you can access the federal support available. |
From the Executive Director
