From Boeing to Tennessee whiskey, coronavirus bailout requests top $1 trillion

  • As the coronavirus outbreak threatens to bring U.S. economic activity to a grinding halt, American businesses are jockeying for a financial lifeline from the administration of President Donald Trump.
  • Here are the industries that have asked Washington, D.C., or state lawmakers for aid to offset the economic fallout of the coronavirus.

As the coronavirus outbreak threatens to bring U.S. economic activity to a grinding halt, American businesses are jockeying for a financial lifeline from the administration of President Donald Trump.

The below have asked Washington, D.C., or state lawmakers for aid to offset the economic fallout of the coronavirus.

A U.S. restaurant trade group on Wednesday asked the White House and Congressional leaders for a $455 billion aid package, saying that the industry could shed nearly half of its 15.6 million jobs and at least a quarter of its annual sales because of the coronavirus outbreak.

The group, the Washington, D.C.-based National Restaurant Association, said restaurants could take a $225 billion sales hit in the next three months, a quarter of their projected total sales of $899 billion.

American hotel and travel industry executives met with Trump on Tuesday to discuss a potential $250 billion aid package, as thousands of hotel workers began furloughs due to the fast-spreading coronavirus.

The requested package would consist of $150 billion in direct aid for the hotel sector and $100 billion for related travel companies, including convention businesses, industry executives said on a call after the meeting with Trump, who made his fortune in real estate and hotels.

The U.S. Conference of Mayors has asked Congress for $250 billion in localized aid to help cities stop the spread of the coronavirus, including through resources for public health departments, supporting small businesses and addressing food insecurity, according to a statement on their website.

Source: https://www.cnbc.com/2020/03/19/from-boeing-to-tennessee-whiskey-coronavirus-bailout-requests-top-1-trillion.html

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