- $7.25 billion additional funds for Paycheck Protection Program.
- $1.25 billion additional funds for the Shuttered Venue Operators Grant program with the new allowance that entities can apply for both PPP and SVOG for a net award.
- $350 billion for state and local government relief with language clarifying eligible use of funds for assistance to small businesses, nonprofits, and hard-hit industries like tourism, travel, and hospitality. Funding can also be used for the expansion of broadband coverage to rural and inner-city areas. $10 billion is designated for local capital infrastructure projects.
- $15 billion for additional EIDL funds, with loans prioritized for the hardest hit businesses with fewer than 10 employees.
- $20 billion for additional vaccinations and $50 billion for testing.
- The Pandemic Unemployment Assistance (PUA) covered period was extended a week to Labor Day from 8/29/21 to 9/6/21, but the federal PUA amount was reduced from $400 to $300 per week. In exchange for the lower benefit, the first $10,200 of unemployment insurance benefits will be non-taxable in 2021 for households with an adjusted gross income under $150,000.
- Federal direct economic stimulus checks will be $1,400 per taxpayer and $1,400 per child or adult dependent (student, disabled). However, the payments will completely phase out for taxpayers with more than $80,000 of your last filed adjusted gross income for singles, $120,000 for heads of household, and $160,000 for married couples.
- Increase in the Child Tax Credit to $3,600/child (an increase of $1,600) for children younger than 6 and $3,000/child for children under 17.
- The proposed incremental increase of the minimum wage was dropped.
- The bill increased federal COBRA health insurance for laid off workers from 85% to 100% through September.
- $25 billion for a new grant program for restaurants and bars to meet payroll and other expenses.
- $1.25 billion for evidence-based summer enrichment, $1.25 billion for after school programs, and $3 billion for education technology.
- $130 billion for most K-12 schools to safely reopen within 100 days.
- $135 million for the NEA, $135 million for the NEH, $200 million for IMLS, and $175 million added for CPB.
- $20 billion for additional rent and utility assistance.
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Next Steps: Now that the Senate has passed their version of the 2021 American Rescue Plan, it needs to go back to the House of Representatives for a vote on the identical bill. House Majority Leader Steny Hoyer quickly announced this weekend that “On Tuesday, the House will consider the Senate's amended version of the American Rescue Plan, so that we can send this bill to President Biden for his signature.” The target date for enactment is before March 14, 2021.
In addition to the above, you may want to reach out to your Regional SBA Offices for further clarifications and guidance on programs that may be able to benefit your own events and organizations.
We will continue to keep you updated as we have more information on final clarifications and SVOG application forms/instructions, as well as other important program notifications.
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About the IFEA:
The International Festivals & Events Association (IFEA) is The Premier Association Supporting and Enabling Festival & Event Professionals Worldwide. With a target audience that includes all those who produce and support quality celebrations for the benefit of their respective "communities," the IFEA's primary focus is identifying and providing access to the professional resources and networks that will inspire and enable those in our industry to realize their dreams, build community and sustain success through celebration. Membership in the IFEA provides value from all directions, including invaluable contacts and cash budget savings worth many times the membership investment. The more you use them, the higher your return.
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Top IFEA Member Benefits & Resources |
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Thank You to Our Association Endorsed Partners:
The IFEA would like to thank the following partners for their dedicated support of the association. Association Endorsed Partners have made a commitment to the continued success of our association, our members, and our industry through their umbrella sponsorship support of all IFEA programs and services. Show your support for these dedicated providers to our industry by getting to know them, and the high-quality products and services that they supply, better.
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International Festivals & Events Association
2603 W. Eastover Terrace - Boise, ID - 83706 USA
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