Senate Bill Aims To Help Radio, TV Broadcasters

• On Tuesday, Senator Ben Cardin (D-MD.), the Ranking Member of the U.S. Senate Committee on Small Business & Entrepreneurship, along with Senator Jeanne Shaheen (D-NH), Senate Democratic Leader Chuck Schumer (D-NY), and Senator Chris Coons (D-DE) introduced the HEROES Small Business Lifeline Act — a comprehensive package of measures that would provide over $370 billion of support to the hardest-hit, most vulnerable small businesses, including minority-owned businesses and very small businesses that have been left behind in this pandemic, and industries, such as restaurants and live venues. The bill is nearly identical to the small business provisions of HEROES 2.0, which passed the House of Representatives on October 1. The expansion of PPP for local media would provide television and radio broadcasters, as well as newspapers, the same treatment as hotels and restaurants received under the original CARES Act PPP — eligibility based on a physical location basis. [Ed. note: given the current state of gridlock in the Senate, and the rapidly approaching election, we wouldn’t hold our breath for anything to move anywhere anytime soon… and now, on with the countdown!]

In response to the Senate’s introduction of the HEROES Small Business Lifeline Act, NAB President & CEO Gordon Smith (left) said, “NAB applauds the inclusion of provisions in the HEROES Small Business Lifeline Act that would expand eligibility to Payroll Protection Program (PPP) loans for local media outlets, including radio and television stations. These provisions would help local broadcasters weather unprecedented economic challenges while continuing to provide critical news and information about important issues affecting our communities.”

Back in May, Reps. David Cicilline (D-RI) and Jim Sensenbrenner (R-WI) introduced the Local News and Emergency Information Act in the House, standalone legislation that would expand eligibility for U.S. Small Business Administration loan access to struggling local newspapers and radio and television stations. Sens. Maria Cantwell (D-WA), John Boozman (R-AR), Amy Klobuchar (D-MN), Joni Ernst (R-IA) and Charles Schumer (D-NY) introduced the Local News and Emergency Information Act in the Senate, and the bill continues to garner bipartisan support.

Smith added, “We thank Senators Schumer, Cantwell, Cardin, Shaheen, and Coons for the introduction of this critical legislation, and the many members of Congress who have voiced their support for America’s radio and TV stations during these difficult times. We also thank Speaker Pelosi and Chairwoman Velázquez for including similar provisions in the House-passed Heroes bill, and we appreciate the leadership of Reps. Cicilline and Sensenbrenner, Sens. Cantwell, Boozman, and Schumer, and their bipartisan cosponsors of standalone legislation in both Houses to provide this much-needed aid for local media.”