Summary: H.R.553 — 117th Congress (2021-2022)All Information (Except Text)

There is one summary for H.R.553. Bill summaries are authored by CRS.

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Introduced in House (01/28/2021)

Aviation Manufacturing Jobs Protection Act of 2021

This bill makes available payroll assistance to eligible aviation employers impacted by the COVID-19 (i.e., coronavirus disease 2019) public health emergency. Specifically, aviation employers demonstrating at least a 15% decline in revenues and economic conditions that justify assistance may enter an agreement with the Secretary of the Treasury to receive up to 50% of the amount of total compensation for the 25% of its workforces most at risk of permanent reduction or furlough, excluding senior executive and highly-compensated employees.

Assistance under this program is available through April 30, 2023, and Treasury must establish an application process and minimum eligibility requirements for participation in the program not later than 10 days after the enactment of this bill.