What the $2 Trillion U.S. Stimulus Package Means for Travel Businesses
Photo Credit: Hilton is one of many travel brands that will receive money from the U.S. stimulus bill. Hilton / Hilton
Skift Take
Lots of travel brands are eligible to earn U.S. government money through the so-called CARES Act. But firms will need to move fast to get their share. Here's how it could all shake out.
Editor's Note: Please join my colleagues and Tori Barnes from the U.S. Travel Association online at noon on April 1 for a live discussion of these issues and themes. We'll present details from multiple industry sectors as well as explain what we know as of now. You can register here. I hope to (virtually) see you there. — Tom Lowry, Editor-in-Chief
President Donald Trump last week signed what is now known as the CARES Act, a massive $2 trillion stimulus meant to keep the U.S. economic engine running despite concerns about coronavirus.
As businesses will receive a good portion of that money — individuals will receive about $600 billion, according to one estimate — now comes the complicated part for companies. They must apply for money with U.S. government agencies, which will be tasked with deciding what businesses will receive aid, and how much. That will be no small feat, as the law is not always clear about what companies are entitled to money.
