Airport Alert: Senate Republicans Unveil Coronavirus Relief Package
Senate Republicans this afternoon unveiled a third coronavirus relief package that parallels the administration's request and would provide the airlines with $58 billion in loans and loan guarantees and an aviation excise tax holiday through the end of the year. But the proposal includes no funding for airports at a time when airports are seeking $10 billion to help them through the current crisis.
The Senate Republican relief package includes loans for small businesses and assistance for individuals and families. On the aviation front, the proposal would:
- Provide $50 billion in loan and loan guarantees for passenger carriers;
- Provide $8 billion in loan and loan guarantees for cargo air carriers; and
- Suspend certain aviation excise taxes through January 1, 2021.
However, there are some strings attached:
- The Republican proposal includes a limitation on executive compensation; and
- It would also allow DOT "to the extent reasonable and practicable" to require air carriers receiving assistance to continue providing air service to communities that had received service before March 1, 2020.
What's Next: Although the Senate Republican plan does not include any airport-related proposals, this is only the first step in the process as lawmakers try to craft the third coronavirus relief package. Senate Democratic Leader Chuck Schumer (D-NY) and House Speaker Nancy Pelosi (D-CA) are expected to come up with their own proposal.
As discussions continue on phase 3, we are continuing to urge Democrats and Republicans alike to include relief for airports that are being severely impacted by a precipitous drop in passengers and revenue as result of the coronavirus outbreak. The Senate could vote on the next coronavirus relief package later this week.
Our Ask: As we mentioned this morning, it is critical that airports continue to weigh in their lawmakers. If you haven't done so already, please:
- Communicate with your Senators that airport relief MUST be part of the stimulus package being assembled to address coronavirus.
- Tell them what is happening at your airport and let them know that you need help NOW.
- Tell them that we can't afford to wait weeks and possibly months to address critical airport operating needs, bond payments, and other challenges.
- Tell them that while airline assistance is critical, an airline loan program will not help airports pay their bills and meet operational needs.
- Please communicate these messages with your House member as soon as possible also.
Shaheen Letter: As mentioned earlier today, Senator Jeanne Shaheen (D-NH) is spearheading a letter that asks the President to work with Congress to ensure that airports have the resources they need to respond to the current crisis.
When you are communicating with your Senate offices, please ask them to sign the letter. The deadline has been extended to tomorrow at 10:00 a.m. Eastern.
Thanks again for all your help!
