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.
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