TMIC
The voice for the Texas Marine Industry

Industry News

What’s Happening

U.S. Senate Passes $2 Trillion Stimulus Bill 

U.S. Senate Passes $2 Trillion Stimulus Bill 

Late last night, the U.S. Senate passed a $2 trillion stimulus package to help keep the nation from falling into a recession because of the COVID-19 crisis. NMMA worked closely with the Trump administration and Congress to develop the economic relief bill, helping to secure many of the recreational boating industry’s top priorities, including:

  • $350 billion for small- and medium-sized businesses to maintain payroll and other operations;

  • Provisions to streamline the application process for businesses to receive small business loans; and

  • A payroll tax delay, modifications to net operating losses, and other tax reform measures to free up cash flow for businesses.

The legislation now heads to the U.S House of Representatives, where it is expected to pass and be sent to President Trump for his signature. 

TMIC TMIC