NBAA Welcomes Congressional Passage of New COVID Relief Legislation
/The National Business Aviation Association (NBAA) applauds congressional passage of a bill to deliver additional coronavirus relief and provide government appropriations for fiscal year 2021. The legislation is expected to be signed into law by President Trump this week.
The $900 billion in COVID-19 relief, attached to a $1.4 trillion year-end omnibus spending bill to fund the federal government for the next fiscal year, provides additional relief for citizens and companies, including air carriers. The bill also advances numerous NBAA priorities, including the availability of payroll support for general aviation air carriers.
Among the many provisions in the bill is an additional $15 billion to fund and extend the air carrier payroll support program, for which general aviation air carriers are eligible. The bill also contains $2 billion in relief for the nation’s airports, with $45 million specifically allocated for general aviation airports
The appropriations portion of the bill contains NBAA-supported language calling for the Federal Aviation Administration (FAA) to develop a program that allows private aircraft operators to block their Mode S transponder code and similar identifying information from real-time or near real-time public tracking.
The COVID relief measure also allocates $284 billion for first and second forgivable loans under the Payroll Protection Program (PPP), which further allows loan recipients to deduct payroll costs and other expenses covered by forgiven loans from their taxes.
Also, the bill provides $20 billion in new funding to the Economic Injury Disaster Loan (EIDL) program for small businesses and extends the employee retention tax credit, passed under the CARES Act, allowing qualifying employers to take a tax credit on a portion of their employment tax obligations.