American Rescue Plan

President Biden just signed the American Rescue Plan Act of 2021, a $1.9 trillion relief fund. The package includes federal aid and support that will be crucial to the recovery of the tourism industry, including: 

• $350 billion to states and local governments, with explicit authority given to allow funds to aid the travel and tourism industry
• $3 billion for Economic Development Administration grants, with 25% ($750 million) set aside for communities affected by job loss in travel and tourism
• Extends the Employee Retention Tax Credit through the end of 2021 and adds enhancements for businesses experiencing at least a 90% decline in revenue
• $8 billion in grants for airports with an $800 million set-aside for airport concessionaires
• $15 billion to airlines through the Payroll Support Program
• Ensures that eligible applicants for the Shuttered Venue Operators Grant (SVOG) program can access both SVOG and the Paycheck Protection Program (PPP)
• $28 billion to restaurants, bars, tasting rooms and other food services through the Restaurant Revitalization Fund
• $7.25 billion to the PPP that allows larger nonprofits to qualify
• $12.7 billion for a national vaccination program, which creates community inoculation centers nationwide along with mobile units for hard-to-reach areas
• $50 billion to improve testing and contract tracing capabilities