Department of Treasury Releases Additional Guidance on the Air Carrier Worker Support Program
This week, the Department of Treasury released additional guidance for those waiting to receive funding under the Payroll Support Program under Title IV, Subtitle B of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). According to the guidance, applicants to the Payroll Support Program whose applications are approved by the Treasury Department enter into a Payroll Support Program Agreement (Agreement), a form of which is available here.
The guidance contains answers to frequently asked questions in the following areas: applications and eligibility, reporting, affiliates, stock buybacks, continuation of service, use of payroll support funds, and tax. This guidance is based in part on questions that NATA has asked of Treasury.
The Treasury Department states that they have “received hundreds of Payroll Support Program applications and is working to review all applications as quickly as possible. Some applications require additional information before the Treasury Department’s review can be completed. The Treasury Department will contact you directly if you are required to provide additional information.”
NATA will continue to work with the Department of Treasury and other agencies to provide our members guidance for relief programs. Please contact NATA at email@example.com, if you should have any questions.
For general press inquiries, contact Shannon Chambers at 703-298-1347 or firstname.lastname@example.org.
The National Air Transportation Association (NATA) has been the voice of aviation business for 80 years. Representing nearly 3,700 aviation businesses, NATA’s member companies provide a broad range of services to general aviation, the airlines and the military and NATA serves as the public policy group representing the interests of aviation businesses before Congress and the federal agencies.