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|Key Provisions of CARES Act. Thank Legislators for Support of Parking.|
Key Provisions of CARES Act. Thank Legislators for Support of Parking.
This is an NPA Issue Alert: The entire parking industry came together to put parking on the map as an industry on Capitol Hill. Through direct outreach to Senators, House Representatives and key agencies—policy makers are now aware of the size, scope and importance of the parking industry.
Our soon to be released Economic Impact Study provided hard data to definitely demonstrate the scale of parking as a $131 billion industry on the Hill. With a massive 581,000 direct workers and nearly 1 million workers connected to parking, all impacted by the virtual shutdown in parking nationwide—Congress could see our economic importance. Ernst & Young is finalizing the full study for release.
NPA and our leaders have spent an intensive four days in direct touch with Senators, Congressmen, Congresswomen, legislative and policy directors during the development of the CARES Act. We will continue outreach with key agencies for the implementation of the act to get you information on loan applications, and key regulations as quickly as possible.
Key provisions we requested are included in the bill, chief among them aid for our furloughed workers and loans for small and larger businesses, as a result of the pandemic.
President's signature is imminent.
Enhanced Unemployment benefits. Additional enhancements to employee sick leave and family and medical leave laws as well as significant new funding for unemployment insurance. One-time payments for each American ($1,200) and child ($500) with phasing out at higher income levels.
Deferral of the payment by employers of the 6.2 percent payroll tax for their employees until Dec. 31, 2021.
Loan Guarantees for Larger Companies: $500 billion loan guarantee program that the Treasury Department will implement.
Small Business Loans, New $350 billion in Lending: for those with up to 500 employees (and, in some limited exceptions for larger businesses).
After the intensive outpouring of calls, letters, emails & texts to request Hill support, we now need to express our thanks that the message was heard. Use the online form for your Senators and House Representatives to say thank you. We are building a relationship for the long haul.
NOW, WE SAY THANK YOU
Parking says thank you for your support. With 581,000 direct employees and nearly 1 million jobs affected by COVID-19, the parking industry is on life-support and desperately needs to help furloughed workers and companies survive.
Thank you for your help and for the help of your legislative staff to respond to the needs of citizens at this time in our country. Parking demand is down 80% and as much as 90% in some places—we are in crisis.
Parking is an essential part of infrastructure in the first mile and last mile of connecting people to hospitals, airports, cities, hospitality and business in this $131 billion industry.
We are stronger together. Please continue your support. We appreciate your tireless efforts for the American people.
With best regards,
Christine Banning, IOM, CAE