Industry Reacts To $2 Trillion Relief Package

• On Friday, the U.S. House of Representatives voted to approve a massive $2.2 trillion emergency economic relief package that has now been signed into law.

Shortly thereafter, Harvey Mason, Jr. (left), Chair & Interim President/CEO of The Recording Academy issued a statement that read, “The Recording Academy® thanks the Congressional leaders who worked with the music community to craft a bill that allows the music to play on. In navigating this unprecedented crisis, all music industry professionals across the U.S., many of whom rely on multiple gigs for their livelihood, can be grateful that they are included in this extraordinary effort to help Americans. We will now turn our attention to helping music makers and others who make a living in our industry navigate the process of getting the financial assistance they need while anticipating the day when they can return to providing the soundtrack to our nation, which we’ll all need when this crisis is over.”

• NAB President & CEO Gordon Smith (left) commented, “NAB is grateful to Congress and the White House for passage of the coronavirus relief package today. Allowing businesses with fewer than 500 employees to gain access to forgivable Small Business Administration loans will go a long way towards keeping many broadcasters and local businesses afloat during these difficult times.”

Smith added, “The devastation to Main Street businesses — and to local broadcasters who support those businesses to drive commerce in hometowns across America — is unprecedented. Going forward, NAB will be advocating for further relief for broadcasters who keep communities safe with life-saving emergency information and fact-based journalism.”