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$2.2 trillion federal relief package signed by President

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Today, President Donald Trump signed a $2.2 trillion rescue package to aid the country amid the coronavirus crisis. The package was passed by the U.S. House of Representatives this morning and was passed by the U.S. Senate on Wednesday.

Some details about the largest economic relief bill in the nation’s history:

  • Provides loans of 2.5 times payroll up to $10 million, grants and tax breaks to businesses large and small
  • Provides for loan forgiveness for expenditures made for payroll, rent and other costs
  • Payments of up to $1,200 to millions of Americans
  • Bolsters unemployment benefits
  • Provides financial support to states, local governments and the health care system

Restaurants: Click here to read an FAQ and a summary of the relief package from the National Restaurant Association.

https://hub.wahospitality.org/wp-content/uploads/2020/03/FAQ-on-Phase-Three-CARES-Act-3.31.2020.pdf

https://hub.wahospitality.org/wp-content/uploads/2020/03/Phase-Three-CARES-Act-Summary-3.23.20.docx2_.pdf

Lodging: Click here to read a summary of the relief package from the American Hotel & Lodging Association. https://hub.wahospitality.org/wp-content/uploads/2020/03/HR-748-Summary-update-3.26.20.pdf

The association will work diligently in the coming days to provide further analysis and details of how this relief package will benefit your Washington state hospitality business.