Many US businesses hope trillion dollar relief package will be approved

A proposed relief package was blocked in the US Senate over the weekend, which would have included billions for hotels and airlines.

Over the weekend, Democrats in the US Senate blocked a $1.8 trillion economic relief package.

With several Republicans not present including Senator Rand Paul, who revealed on Sunday that he has coronavirus, the vote came to 47 – short of the 60 votes required to proceed. Republicans are hoping for another vote on Monday.

Senate minority leader Chuck Schumer said the Democrats would put forward their own bill, arguing that the draft package would be too damaging to hospitals, cities, states and medical workers during the pandemic.

The proposed package in the Senate includes around $58 billion for the airline industry and $150 billion for other large “distressed” businesses including hotels. 

Both industries are under huge pressure without any financial aid. 

The three largest US airlines, American, Delta, and United have asked employees to volunteer for unpaid leave. An open letter by United Airlines told its employees that without immediate support, layoffs were imminent. 

American Airlines has cut domestic flights by 30% and international flights by 75% in April, Delta Airlines will cut 70% of its flights, and United Airlines 60%.

Among large hotels, Marriott International and Hilton have furloughed thousands of workers and cut executive pay, and 11 MGM Resorts properties have closed. 

The American Hotel & Lodging Association, the US Travel Association and the GBTA, have requested $150 billion in government relief, deeming themselves critical to the government in terms of business and medical value – with many hotels offering up extra beds for hospitals.

How has the coronavirus affected you? Please fill in this 15-question survey (all answers are anonymous) so that we can provide a measure of the impact of this pandemic worldwide.

For more features and breaking news sign up to C&IT Magazine's daily Newstracker.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
In pictures: Events industry joins nationwide NHS tribute

In pictures: Events industry joins nationwide NHS tribute

As the UK came together to thank frontline healthcare workers, venues did their bit to mark the occasion.

Fears freelancers will be forced into debt despite UK chancellor’s intervention

Fears freelancers will be forced into debt despite UK chancellor’s intervention

Relief for freelancers welcomed by HBAA chair amid concerns many will have to take out loans before a payout in June.

How many MICE businesses have a complete travel ban in place?

How many MICE businesses have a complete travel ban in place?

Nearly 2,000 MICE professionals reveal whether their company has banned business travel in part three of C&IT's Impact of Coronavirus Report.

LIVE UPDATES: Which international events are being cancelled

LIVE UPDATES: Which international events are being cancelled

All the latest postponements and cancellations as the world deals with the spread of coronavirus.

Events industry applauds ExCeL's hospital transformation

Events industry applauds ExCeL's hospital transformation

The conference venue is expected to be ready for action as a huge coronavirus hospital by next week.

‘Kill the agenda, it gets in the way of creativity’

‘Kill the agenda, it gets in the way of creativity’

A detailed event schedule doesn’t leave much room for flexibility or self-expression, says INVNT’s Adam Harriden.

How coronavirus is changing event contracts and insurance forever

How coronavirus is changing event contracts and insurance forever

A need for more detailed contracts has been highlighted in C&IT’s Impact of Coronavirus Report, which surveyed 2,000 event professionals.

Aeorema Communications acquires Eventful

Aeorema Communications acquires Eventful

The deal marks Aeorema's 'conviction in the future and recovery of the events and MICE industry'.

Largest stimulus bill in US history agreed

Largest stimulus bill in US history agreed

A nearly $2-trillion package will boost the US economy amid the COVID-19 outbreak after both sides of the senate reached an agreement.

Industry support line launched by Stress Matters

Industry support line launched by Stress Matters

Help by phone and Whatsapp is available to event professionals who would like to talk to a trained mental health first aider.