Passed on Monday, the new package includes $15 billion for performing arts venues and cultural institutions affected by the pandemic

As part of the $900 billion relief package, the "Save Our Stages" Act was passed by Congress in a bipartisan agreement on Monday. Cosponsored in the Senate by Amy Klobuchar and John Cornyn, it was championed by Senate Minority Leader Chuck Schumer of New York.

The bill will allow entertainment businesses, arts venues, and independent talent agencies to apply for grants from the Small Business Administration. Organizations that have lost a minimum of 25% of their revenue will qualify and receive aid for employee salaries, rent, utilities, etc. Those that have lost more than 90% of their revenue will get to apply first.

The bill will also provide extended unemployment benefits and a second round of Payment Protection Program loans for those businesses demonstrating major economic loss.♣

 Full Article