(TAN): The United States Travel Association chief has appreciated the passage of the Coronavirus Aid, Relief and Economic Security (CARES) Act by the Senate.
The CARES Act is a coronavirus response bill worth roughly USD 2 trillion, and aimed at speeding relief across the country’s economy.
President and Chief Executive Officer of US Travel Association Roger Dow said the Phase III relief package was delivered at a time when United States’ travel sector needed it the most. The nonprofit had recently said an estimated 5.9 million Americans working in the travel industry will lose their jobs by the end of April owing to a decline in travel triggered by the virus outbreak.
[ALSO READ: Maldives suspends on-arrival visas amid coronavirus scare]
“The Phase 3 relief package passed by Congress this week is a great first step in this process, and comes at a time when the American travel industry is facing catastrophic economic disaster, with almost six million travel-supported jobs expected to be lost in the next five weeks,” Dow said.
He also urged the authorities to accelerate the “rulemaking process” so that the money can reach the people who “desperately need it” fast.
“We call upon the Department of the Treasury and the Small Business Administration to expedite the rulemaking process—within 10 days—to get this money out the door into the hands of those who so desperately need it. Businesses across America are being forced to shut their doors to customers and employees alike, and there is no time to wait,” Dow added.
According to Dow, although the package will help the sector that is facing a massive economic calamity for a while, more such measures will be required to prevent an absolute disaster. Also, more jobs will be lost if it takes too long to implement.
[ALSO READ: East End towns seek limits on travel to stop influx from New York City, US]
“While the CARES Act represents tremendous progress toward keeping our economy functioning at this challenging and unprecedented moment, it is clear that more will need to be done to protect the livelihoods of American workers. This relief package will help create a bridge for some time, but there are some that this won’t help—and the longer it takes to implement, the more jobs will be lost,” he said.
He offered to work with the administration to help the economy recover rapidly after the crisis is over.
“We stand ready to work with Congress and the administration to ensure that the economy recovers as quickly as possible once the worst of the health crisis is finally past,” Dow said.
Related posts:
US travel industry estimates 5.9 million job losses by April-end
Airbnb takes its travel experiences online in times of COVID-19
Marriott estimates 23% dip in first quarter revenue per room, with about a quarter of its hotels closed due to COVID-19
U.S. Travel Association shifts annual trade show IPW to new date, new city
