Congress passes ‘Save our Stages’ Act

23 December 2020 67 views 0

The bill has been passed as part of the US’s $900 billion relief package

The ‘Save our Stages’ Act has been passed by Congress as part of the US’s $900 billion relief package.

The bill will allow entertainment businesses, arts venues, and independent talent agencies to apply for grants from the Small Business Administration.

Organizations that have lost a minimum of 25% of their revenue will qualify and receive aid for employee salaries, rent, utilities, etc. Those that have lost more than 90% of their revenue will be able to apply first.

Unemployment benefits will be extended, providing support for ’gig workers,’ including freelance musicians. Refundable Employee Retention Tax Credits will be extended, as will enhanced charitable giving incentives.