AAHOA Statement On Passage Of Payroll Protection Flexibility Act

ATLANTA—AAHOA President & CEO Cecil P. Staton issued the following statement following House and Senate passage of the Payroll Protection Flexibility Act:

“America’s hoteliers applaud the House and Senate for passing the Payroll Protection Flexibility Act. This legislation will ensure that vital corrections are made to the Paycheck Protection Program (PPP) which will provide hoteliers with more options to keep the lights on and come out on the other side of this crisis. We are pleased that several of the recommendations for which we advocated are included in this bill including the extension of the covered period for using PPP loans through the end of 2020 and allowing borrowers to use more loan proceeds to cover a greater percentage of operating costs. Making these changes effective retroactively, as if they were included in the original CARES Act, will help small businesses significantly as they work to remain open, keep workers on payroll, and emerge from this crisis as our society reopens. We urge President Trump to sign this bill into law.”