From: American Institute of Aeronautics and Astronautics
Posted: Thursday, March 11, 2021
The American Institute of Aeronautics and Astronautics (AIAA) applauds the passage of the $1.9 trillion American Rescue Plan Act of 2021. AIAA Executive Director Dan Dumbacher made the following statement after the president signed the legislation into law:
“The American Rescue Plan will help sustain the U.S. aerospace and defense (A&D) industry during these ongoing difficult times. This vital industry is a multi-trillion-dollar enterprise that supports 2.19 million jobs nationally and many more globally. It has improved our quality of life by transforming transportation, medicine, defense, and security. The necessary aid this package provides will help the employees, small businesses, and large contractors who make up the A&D sector continue to play a critical role in safely leading the nation back to a healthy and prosperous future.
AIAA applauds lawmakers’ steps to support the aviation manufacturing industry, workforce, and supply chain, which has been severely weakened by the COVID-19 pandemic and will take several years to recover. Bipartisan efforts to provide economic relief with the inclusion of the Aviation Manufacturing Jobs Protection Act in the package is especially helpful. That provision allocates $3 billion in payroll support for aerospace manufacturers, including a 50% government cost-share program for workers most at risk of layoff or furlough. The package also gives agencies funds to cover certain contractor costs and to keep skilled personnel and workers in a ready state during the pandemic response through Fiscal Year 2021. Moreover, many small businesses – essential to the A&D industry’s supply chain – will directly benefit from the additional $7.25 billion made available to the Paycheck Protection Program.”
Media Contact: Rebecca B. Gray, RebeccaG@AIAA.org, 804-397-5270 cell
// end //