- The bill would push the deadline for PPP fund applications to May 31 from its current March 31
- The Leisure & Hospitality industry currently accounts for nearly 40% of all U.S. unemployment
- Extending the Paycheck Protection Program is vital for travel employers to keep their lights on
The U.S. Travel Association on Friday voiced strong support for the PPP Extension Act of 2021, a bipartisan and bicameral bill that would implement the Paycheck Protection Program extension U.S. Travel has pushed for as an essential part of economic relief.
The bill would push the deadline for PPP fund applications to May 31 from its current March 31, with an additional 30 days past the new deadline for the Small Business Administration to process applications.
U.S. Travel Association Executive Vice President for Public Affairs and Policy Tori Emerson Barnes:
“The hardest-hit U.S. businesses are still in dire need of aid, so extending the PPP application deadline is critical to help the U.S. economy get through the next few uncertain months.
“The Leisure & Hospitality industry currently accounts for nearly 40% of all U.S. unemployment, and it is still unclear when travel demand will finally be able to rebound on its own. Extending the PPP is vital for travel employers to keep their lights on, when many would otherwise be at risk of shutting their doors and their jobs being lost permanently.
“We are grateful to members of both chambers for recognizing this outstanding need in the wake of passing the American Rescue Plan, and moving swiftly to address it. In particular, we thank Reps. Nydia Velazquez (D-NY), Blaine Luetkemeyer (R-MO), Carolyn Bourdeaux (D-GA) and Young Kim (R-CA), and Sens. Ben Cardin (D-MD), Susan Collins (R-ME) and Jeanne Shaheen (D-NH) for their leadership in getting this bill introduced.
“We are hopeful for the PPP Extension Act’s consideration and passage next week.”