The Revised Heroes Act now includes $10B for independent venues impacted by Coronavirus. This information arrived thanks to a staff member for Senator Amy Klobuchar (D-MN), who sent Billboard the following statement. It confirms the support of the Save Our Stages Act adding to the Heroes Act.
Independent venues were some of the first establishments to close down and will likely be some of the last to open. I refuse to sit by and let the music die, which is why I was proud to introduce the bipartisan Save our Stages Act in Congress. Now that the new coronavirus relief bill includes Save Our Stages, we are one step closer to getting small entertainment venues the help they need to make ends meet and serve our communities for generations to come.Senator Amy Klobuchar
A coalition in the House of Representatives introduced a revised relief package. Luckily for the industry, it also includes the Save Our Stages Act. Said addition would provide huge support to both the National Independent Venue Association and the National Independent Talent Organization.
If things go as expected, passes and gets signed into law, the $2.2 trillion Heroes Act would add a new act. It would include another round of stimulus checks to American families. In addition to the second round of PPP loans for American businesses and ‘targeted assistance for the struggling restaurant industry and independent live venue operators’
A Breath of Fresh Air For The Music Industry
In a very desperate landscape for the music venues, this bill will provide them with a little bit of air. The target assistance includes $10 billion in relief aid for independent venues and agencies and other music-oriented independent businesses. As live music business faced the devastating consequences of COVID 19. Many venues among the first to close and likely the last to reopen as the country works to contain the spread of the virus. Unfortunately, the pandemic does not stop its spread and has been around for more than six months. According to actual data, 90 percent of NIVA’s 2,500 member venues will face going out of business – unless they receive some kind of government relief.
Moreover, organizations could apply for and receive a $12 million grant. Also, they could make use of a supplemental grant equal to 50 percent of the initial grant. The conditions state that they can only use that money in ‘specified expenses’. Those include things such as payroll costs, rent, utilities, and personal protective equipment. This addition to Revised Heroes Act is wonderful news for the music industry.
We’re cautiously optimistic our elected officials understand that if they assist us now. We can be part of the economic renewal of small towns and big cities since for every $1 spent on a concert ticket at a small venue, $12 of economic activity is generated for area businesses like restaurants, retail shops, and hotels. This investment will pay off for communities and workers in all 50 states and Washington, D.C.Fix Schaefer