COVID-19 Stimulus Requests: Tracker by Industry

COVID-19 AnalysisCOVID-19 Stimulus Requests: Tracker by Industry

Budget & Tax,  | Analysis
Mar 20, 2020  | 11 min read | Print Article

Wondering which industries are lobbying for what in the COVID-19 stimulus? We have a tracker. As this stimulus – which will dwarf TARP from the 2008 financial crisis – continues to expand, it’s all the more imperative that taxpayers keep a sharp eye on the flow of dollars, and whether some are flowing toward industry wish lists.

There is one main (growing) spreadsheet with all the dollar figures and sources we can find – which industries are asking for how much and with what justification. That’s the first drop-down. As we are able, you’ll see more industry-specific drop-downs. NOTE: the drop-downs reflect what companies and industry associations are asking for, not what has made it into the bill. For coverage of the COVID-19 response legislative packages, follow our ongoing analysis here.

Big Asks:

Request Amount
Grants to commercial passenger airlines – Treasury $25 billion
Grants to cargo airlines – Treasury $4 billion
Federal Reserve makes zero interest unsecured loans or loan guarantees OR purchases stock in companies $25 billion
 Rebate to U.S. Part 121 air carriers the federal excise taxes paid into Airport and Airways Trust fund from Jan 1 to March 31, 2020 ??
Repeal all excise taxes on U.S. Part 121 air carriers through December 31, 2021 AND extend “temporary” repeal beyond 2021 based on”economic circumstances” ??
TOTAL $54 billion

Justification:

Reduced liquidity – passenger traffic at 20 to 30 percent of normal.

Reference Info:

Requester Source Date
Airlines for America AFA fact sheet 3/16/2020

Big Asks:

Request Amount
Canceling payment of all payroll taxes paid by employers for the months of March, April, and May $300 billion
Legislation expanding and streamlining  SBA loan programs for small businesses experiencing revenue loss from Coronavirus.
Expand federally subsidized lending to companies with more than 500 employees by allowing them to access the Federal Reserve Discount Window and creating a loan and loan guarantee program.

Reference Info:

Requester Source Date
U.S. Chamber of Commerce U.S. Chamber of Commerce press release 3/16/2020

Big Asks:

Public and private liquidity, including loan guarantees.

Amount:

$60 billion

Reference Info:

Requester Source Date
Boeing Press release 3/17/2020

Big Asks:

Relief funds for DOD DP3 transportation service providers harmed by DOD stop move order covering March 14 to May 11, 2020

  • Fund amount calculated at 60% of revenue from same period in 2019.

More than two dozen tax and regulatory changes plus dozens of policy changes.

Amount:

$186.6 million for relief funds.

Justification:

Unable to move personnel.

Reference Info:

Requester Source Date
International Association of Movers/American Moving and Storage Association Joint Relief Request 3/17/2020

Big Asks:

  • Temporary injection of public and private investment into the system to help mitigate reduced cash flow
  • Designate national security programs and workforce as essential.
  • Support for small businesses and supply chains
  • Accelerate payments, obligations, and contract awards under federal contracts

Reference Info:

Requester Source Date
Aerospace Industries Association AIA Press Release 3/18/2020

Big Asks:

  • Direct lenders to grant emergency extensions of loan repayment deadlines and provide essential emergency operating funds.
  • Grant federal capital gains tax relief for farmers selling land, cattle, and equipment to remedy their current financial plights.
  • Eliminate the red tape that prevents state-inspected beef plants from selling beef across state lines to increase competition for cattle and eliminate the current bottleneck in beef distribution to consumers.
  • Suspend the decision to allow raw beef from disease-affected Brazil.
  • Direct the U.S. Department of Justice to immediately investigate the cause of this week’s inexplicable market volatility marked by severely depressed cattle prices and skyrocketing wholesale beef prices.

Reference Info:

Requester Source Date
R-CALF USA (Ranchers-Cattlemen Action Legal Fund United Stockgrowers of America) Letter to the President 3/18/2020

Big Asks:

  • Increase in USDA Commodity Credit annual lending authority from $30 billion to $50 billion
  • Timely and full Replenishment of this lending authority
  • Ensure livestock producers are eligible for assistance

Justification:

Volatile commodity markets.

Reference Info:

Requester Source Date
National Cattleman’s Beef Association NCBA Letter to Congress 3/19/2020

Big Asks:

Use FAA Airport Improvement Program with expanded eligibility:

  • Could use money “to tackle any debt service payments, increased operational expenses, workforce retention, and any lawful purpose.”

Amount:

$10 billion

Justification:

Passenger traffic and associated revenue is severely dropping. $7 billion in bond interest payments, on $100 billion in debt, due this year.

Reference Info:

Requester Source Date
Airports Council International -North America Letter to Congress 3/18/2020

Big Asks:

  • Create a beverage alcohol industry stabilization fund (federal grants)
  • Suspend federal excise taxes for entirety of 2020 calendar year
  • Make current excise tax rate permanent for distillers (H.R. 1175/S. 362
  • De-escalate trade disputes with the EU and suspend tariffs on distilled spirits
  • Support SBA business interruption and disaster assistance loans

Reference Info:

Requester Source Date
Distilled Spirits Council,
American Craft Spirits Association,
Kentucky Distillers’ Association,
New York State Distillers Guild
Joint Letter to Congress 3/18/2020

Big Asks:

  • Reduce the rate of the Black Lung Excise Tax.
  • Suspend or reduce royalty rate for coal extraction on federal lands.
  • Cut in half the industry’s financial obligation for the Abandoned Mine Land Fund.
  • Ensure carbon-intensive industries get access to any federal financing programs.

Justification:

81,000 miners employed by domestic coal.

Reference Info:

Requester Source Date
National Mining Association NMA Letter to Policymakers 3/18/2020

Big Asks:

  • Loan guarantees that ease a liquidity squeeze.
  • Tax benefits to assist employers with providing support to employees.
  • Relieving the burden of costs that are ongoing despite closures.
  • Tax measures that will allow theaters recoup losses when the industry is back up and running.

Justification:

Relief measures for 150,000 movie theater workers – org. represents 33,000 screens in 50 states and expect movie theater closures for up to 12 weeks.

Reference Info:

Requester Source Date
National Assocation of Theater Owners NATO Press Release 3/18/2020

Big asks:

  • Stop small refinery RFS-exemptions
  • Restore 500 million gallons to RFS
  • Push China to remove tariffs on ethanol
  • Enact policies to spur the use of low carbon fuels
  • Grant additional emergency authorities

Justification:

  • Drop in gasoline consumption reducing demand for  ethanol

Reference Info:

Requester Source Date
American Coalition for Ethanol

ACE press release

3/18/2020

Big Ask:

Manufacturing Resiliency Fund – Interest Free Loans

Amount:

$1.4 trillion

Reference Info:

Requester Source Date
National Association of Manufacturers NAM Press Release 3/18/2020

Big Asks:

Request Amount Justification
Topline: grants, loans, insurance, unemployment assistance, and several tax provision.

$325 billion

Anticipating sales decline of $225 billion over the next three months, resulting in 5-7 million job losses
Create a Restaurant and Foodservice Industry Recovery Fund adminstered by the Treasury Department (grants) $145 billion
Federally backed business interruption insurance – Treasury $100 billion Private business interruption insruance typically excludes “Virus” from policy coverage
SBA backed loans for “adversely affected” small businesses $45 billion
Federal Loan Program Equal to Lost Revenue — loans potentially forgiven ?? Permitts employees to stay on payroll; avoid increased costs in federal safety net programs (unemployment, SNAP, etc)
Community Development Block Grants – Disaster Relief $35 billion
 Disaster Unemployment Assistance (DUA) $130 million
Assistance in allowing businesses to defer mortgage, lease and loan obligations.
Various tax changes: ??
Assistance in allowing businesses to delay, defer, or forgo tax obligations.
Employee Retention Tax Credit (ERTC)
Reduced credit card interchange fees (expanding Durbin amendment from Dodd-Frank)
Reduce employee payroll tax witholding by 2% and cover cost with a transer from General Revenue

Reference Info:

Requester Source Date
National Restaurant Association NRA press release 3/18/2020

Big Asks:

Request Amount
Establish a Travel Workforce Stabilization Fund to keep workers employed. $250 billion
Provide an Emergency Liquidity Facility for travel businesses to remain operational. ??
Bulk up and streamline the SBA loan programs to support small businesses and their employees. ??

Justification:

Projecting $202 billion in direct losses before May and loss of 4.6 million jobs.

Reference Info:

Requester Source Date
U.S. Travel Association Press Release 3/18/2020

Big Asks:

  • Establish a confectionery industry recovery fund to pay employees, maintain overhead expenses, and meet existing financial obligations.
  • Funding for Small Business Administration
  • Expand Unemployment
  • Suspend payroll tax collection.
  • Create a federal exemption for food manufacturing facilities

Amount:

$500 million for the recovery fund.

Justification:

Pandemic has put stress on the industry, exacerbated by short supply of sugar as well as artificially high domestic sugar prices.

Reference Info:

Requester Source Date
National Confectioners Association Letter to Congress & the Administration 3/19/2020

Big Asks:

  • Designate the entire oil and gas supply chain as critical infrastructure.
  • Discretion with compliance of non-essential designations to keep functionality at Dept. of Transportation, DOI, DHS, Dept. of State, EPA, and exempt oil and gas workers from agency requirements.

Justification:

“We play a critical role in providing affordable and reliable energy to American families and businesses, which is essential to maintain our national security and will drive our economic recovery”

Reference Info:

Requester Source Date
American Petroleum Institute

Letter to the President

3/20/2020
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