Treasury Department: Larger airlines need to compensate taxpayers for coronavirus aid as talks drag on
Two weeks ago, Congress approved $25 billion in grants for U.S. passenger carriers, $4 billion for cargo airlines and $3 billion for airline contractors, such as caterers, in exchange for not furloughing workers or cutting their pay rates through Sept. 30. Lawmakers also approved $29 billion in loans for airlines.
Airline executives have said the drop in demand is more severe than following the Sept. 11 attacks and say they expect the fallout from the pandemic will last into next year if not longer than that. The department said it would provide guidance to those larger passenger airlines "should total requests for payroll support exceed the maximum amounts awardable under the CARES Act.""We have a great plan for the airlines. We've got to keep the airlines going," Trump said at a press briefing. "It's never been a great business but it's a vital business for the country.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. Congress in talks on coronavirus small business aid after partisan clashA partisan skirmish in the U.S. Senate cut short a Republican effort to speed $250 billion in new assistance to small businesses on Friday, forcing Republicans and Democrats to negotiate over how best to help independent firms reeling from the coronavirus outbreak.
Read more »
More Than 16 Million People Have Filed For Unemployment Benefits In The Last 3 Weeks: Coronavirus By The NumbersA daily look at the coronavirus numbers you need to know
Read more »
Fake cops are stopping drivers for violating coronavirus stay-at-home ordersOne psychologist says police impersonators hassling people about travel restrictions are similar to people who post social-media shaming photos of strangers violating personal-distance guidelines.
Read more »