legislation: 116-s-4634

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
116-s-4634 116 s 4634 Air Carrier Worker Support Extension Act of 2020 Transportation and Public Works 2020-09-21 2020-09-21 Read twice and referred to the Committee on Commerce, Science, and Transportation. Senate Sen. Wicker, Roger F. [R-MS] MS R W000437 25 Air Carrier Worker Support Extension Act of 2020 This bill extends authority for the Department of the Treasury to provide financial assistance to passenger air carriers, cargo air carriers, and contractors of passenger air carriers for the continuation of payment of employee wages, salaries, and benefits. The maximum amounts of financial assistance that may be provided by Treasury for this purpose are $25.5 billion for passenger air carriers, $300 million for cargo air carriers, and $3 billion for contractors . The bill provides specific deadlines and procedures under which Treasury must provide financial assistance to air carriers and contractors. To be eligible for financial assistance, an air carrier or contractor must (1) agree not to reduce pay and benefits or conduct involuntary furloughs until March 31, 2021; and (2) agree, through March 31, 2022, not to repurchase stock, pay dividends, or make other capital distributions. Additionally, Treasury may require carriers that receive assistance to maintain service to points served before March 1, 2020. Such authority terminates on April 1, 2022. The bill limits the maximum allowable compensation of an officer or employee of an air carrier or contractor that receives assistance. 2023-01-11T13:44:44Z  

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