SAMUDRA News Alerts

USD 300 mn in aid earmarked for seafood industry in US stimulus package by Steve Bittenbender March 29,2020   |  Source: SeafoodSource

The U.S. Senate late on Wednesday, 25 March, unanimously passed a USD 2 trillion (EUR 1.81 trillion) relief package for American businesses and individuals whose work has been affected by the coronavirus pandemic.

The bill now heads to the House, where passage is expected by the end of the week. President Trump has also indicated he would sign the bill into law.

The bill, the third taken up by Congress in relatively short order to address the country’s needs as the COVID-19 outbreak forces states and communities to close restaurants and enact other measures to contain the spread of the virus, includes specific aid for the fishing industry.

Among the relief the fishing industry is set to receive is USD 300 million (EUR 272 million) that will be available to tribal nations, fishermen, fishing communities, other fishery-related businesses and certain aquaculture businesses through the Commerce Department until 30 September, 2021.

Under the bill, those entities can receive aid if their revenue losses due to COVID-19 causes “any negative impacts” to fisheries or a loss greater than 35 percent of their prior five-year average revenue.

“This helps protect our food supply chains, and this targeted relief will help ensure that the families and the coastal


© 2020 Diversified Communications. All rights reserved.

Theme(s): Others.

Post Comment


Sélectionnez Date:

Select Themes