By Sarah Mace
The New York Thoroughbred Breeders, Inc. (NYTB) would like to draw the attention of all members and stakeholders to a pair of webinars posted by the Horseman’s Association (NYTHA) and National Thoroughbred Racing Association (NTRA) focusing on the Federal stimulus legislation enacted to combat the economic impact of the COVID-19 pandemic.
NYTHA’s webinar, which took place Monday morning, April 6, covered the subject of the Paycheck Protection Loan (PPL, also known as either PPP or P3) and the Economic Injury Disaster Loan (EIDL), specific to NY trainers. The PPL/PPP/P3 and the EIDL are part of the Federal Coronavirus Aid, Relief, and Economic Security Act, which is meant to keep businesses and individuals afloat during this unprecedented freeze.
Click here for “NYTHA Update on Federal Disaster Relief Provisions for NY Trainers.”
NTRA partnered with its Washington, D.C., legislative team, The Alpine Group and Kentucky-based Dean Dorton, a leading expert on equine tax matters, to host a national teleconference on April 1 to review Federal stimulus bills. The main topics covered are:
- The Coronavirus Preparedness Response and Supplemental Appropriations Act ($1 billion in loan subsidies to be made available to help small businesses, small agricultural cooperatives and non-profit organizations which have been impacted by financial losses as a result of the coronavirus).
- The Families First Coronavirus Response Act (protects public health workers and provides important benefits to children and families for those impacted by the coronavirus. Protections for the employers of affected workers also are included in the legislation in the form of tax credits to offset the costs of providing emergency sick leave).
- TheCoronavirus Aid, Relief, and Economic Security Act (CARES Act) (an economic stimulus package valued at $2 trillion. The bill provides direct payments to many Americans, including individuals and couples; $130 billion to hospitals that are seeing their resources stretched to the brink and beyond in their battle to combat the coronavirus; $500 billion for corporations; $367 billion for small businesses; $150 billion in aid for local and state governments; and billions of dollars in extended unemployment benefits for furloughed workers.
Click here for “NTRA Equine Industry Update on COVID-19 Federal Stimulus Bills.”
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Reminder: NTRA Industry Information Page for COVID-19
In an effort to help educate the public and industry stakeholders on measures to help limit the spread of COVID-19, NTRA has also created an industry information page on the NTRA website.
