Revenue / 12.23.20
Congress Approves COVID-19 Relief Bill, Includes $15B for 'Live Venues, Independent Movie Theaters and Cultural Institutions'
Pollstar (12/20/20) Gensler, Andy
The U.S. Congress on Dec. 20 finally agreed on a $900 billion COVID-19 Relief Bill that includes the Save Our Stages Act, which will provide some "$15 billion in dedicated funding for live venues, independent movie theaters and cultural institutions," according to an "Emergency Coronavirus Relief & Omnibus Agreement" email from Speaker of the House Nancy Pelosi. Precise details are lacking on the funds' distribution plan, which was initially proposed by the National Independent Venue Association (NIVA). NIVA Board President Dayna Frank expressed gratitude for Congress' actions, noting that "we’re also incredibly grateful that this bill provides Pandemic Unemployment Assistance which will help the millions of people who lost their jobs through no fault of their own during this economic crisis. We urge swift passage of this legislation, which will assist those in the greatest need and ensure the music lives on for generations to come." The relief bill represents the first significant federal aid package during the pandemic and global crisis since April. Although the measure is less than half the $2.2 trillion stimulus law enacted in March, the New York Times reported that it is still "one of the largest relief packages in modern history." The legislation now goes to outgoing President Donald Trump for his signature.
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Tags: News , Venues , Leadership , COVID-19 , Coronavirus