Financial institutions have predicted without federal government relief aid, the industry could see more than 40% of the 3,000 businesses permanently shut down.
In prepared remarks, Pantuso will outline the devastation COVID-19 has brought on the motorcoach industry, which has also affected many other industries including the live entertainment industry.
Bill includes $8 billion for the private motorcoach industry.
The Coronavirus Economic Relief for Transportation Services Act will provide $10 billion in emergency economic relief funding, in the form of grants — no less than 50% of total funding — and other economic assistance.
Most charter and tour companies have closed their doors, commuter operations have mostly stopped running, and scheduled service operations are operating at approximately 15% of capacity.
Both the House Ways and Means Committee Chairman and the T&I Committee Chairman requested Steven Mnuchin and Federal Reserve Chair Jerome Powell consider providing at least $5 billion.
The task force will work to develop a path forward for not only the cleanliness of motorcoaches but also explore new methods and approaches that protect everyone on the bus.
Most recent data shows that nearly 100% of the charter and tour market has stopped operating.
In the midst of COVID-19 pandemic, President/CEO Peter Pantuso urges Congress to help industries, which provides 500 to 600 million passenger trips annually.
USLAW is the exclusive legal content provider of the ABA, including articles, legal updates, webinars, and educational programming.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In