Airline Industry to Get $50 Billion From the $2 Trillion Congress Stimulus Bill

Despite ironing out a few details regarding unemployment, Congress has agreed to pass a $2 trillion stimulus bill this week that will help lift the economy through the disruption and turbulence caused by the ongoing coronavirus pandemic. The agreement was announced late on Tuesday evening.

After partisan debate pushed the vote through the weekend, congressional leadership is expected to pass the Phase Three bill, the third iteration and largest relief package associated with the coronavirus pandemic, which aims to provide more than $500 billion for corporate business, more than $360 billion for small businesses and a one-time check of $1,200 for every American who makes less than $75,000.

More specifically, it was reported that airlines will get $25 billion in grants to “exclusively be used for” employee wages, salaries and benefits as well as an additional $25 billion in loans.