NAB Comments on U.S. House Passage of The Heroes Act
|RADIO ONLINE | Thursday, October 1, 2020|
In response to passage by the House of Representatives of The Heroes Act, which includes provisions to expand eligibility for U.S. Small Business Administration loan access to struggling local newspapers and radio and television stations, NAB President and CEO Gordon Smith said:
"NAB applauds House passage of The Heroes Act that would expand eligibility to Payroll Protection Program loans for local media outlets, including radio and television stations. America's broadcasters and hometown newspapers have been providing comprehensive coverage and critical information during the COVID-19 pandemic, even as they face unprecedented financial hardships that threaten local journalism.
"We thank Speaker Pelosi and Chairwoman Velázquez for including provisions to support local broadcasters during these difficult times, and we appreciate the leadership of Reps. Cicilline and Sensenbrenner, Senators Cantwell, Boozman, and Schumer, and their cosponsors in both chambers in support of these important provisions."
The expansion of PPP for local media would:
- Provide television and radio broadcasters, as well as newspapers, the same treatment as hotels and restaurants received under the original CARES Act PPP - eligibility based on a physical location basis;
- Require a local station to fit within the SBA size standard for the broadcasting industry;
- Ensure that expanded PPP funds would remain at the local level through additional oversight.
In May, Reps. David Cicilline (D-RI) and Jim Sensenbrenner (R-WI) introduced the Local News and Emergency Information Act in the House, standalone legislation that would expand eligibility for U.S. Small Business Administration loan access to struggling local newspapers and radio and television stations. Sens. Maria Cantwell (D-WA), John Boozman (R-AR), Amy Klobuchar (D-MN), Joni Ernst (R-IA) and Charles Schumer (D-NY) introduced the Local News and Emergency Information Act in the Senate, and the bill continues to garner bipartisan support.
Latest Radio Stories
America's Top Testing Christmas Songs 2020|
FCC Order Allows AM Stations to Broadcast All-Digital Signal|
Nielsen Webinar Discusses October 2020 PPM Data|
Townsquare Names Ish Johnson MP/CRO of Killeen-Temple, TX|
WIXV's Scott Honored With Outstanding Georgia Citizen Award|
Podchaser Pro Debuts Access to Reach, Contacts, Demos|