USDOT Awards $10 Billion in Relief for America’s Airports
In less than two weeks since the bill was signed into law, the U.S. Department of Transportation’s Federal Aviation Administration (FAA) is ready to deliver CARES Act grants to eligible airports throughout the nation.
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U.S. Transportation Secretary Elaine L. Chao announced April 14 an award of approximately $10 billion to commercial and general aviation airports from the Trump Administration's newly created Coronavirus Aid, Relief, and Economic Security (CARES) Act Airport Grant Program. The effort will provide unprecedented and immediate relief to American families, workers, and businesses, the Secretary’s office said in a statement.
“This $10 billion in emergency resources will help fund the continued operations of our nation’s airports during this crisis and save workers’ jobs,” said U.S. Transportation Secretary Elaine L. Chao.
In less than two weeks since the bill was signed into law, the U.S. Department of Transportation’s Federal Aviation Administration (FAA) is ready to deliver CARES Act grants to eligible airports throughout the nation, the statement said. The grants will provide economic relief to airports around the country affected by the COVID-19 public health emergency.
This funding will support continuing operations and replace lost revenue resulting from the sharp decline in passenger traffic and other airport business due to the COVID-19 public health emergency. The funds are available for airport capital expenditures, airport operating expenses including payroll and utilities, and airport debt payments.
The FAA encourages airport sponsors to spend the grants funds immediately to help minimize any adverse impact from the current public health emergency. Airport sponsors should work with their local FAA Office of Airports field office on the application and grant-agreement process.
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